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245-27 Maximum amount of deferred-payment purchases; bond
(a) A licensee may apply to the department to set the maximum amount
of deferred-payment purchases of stamps that may remain unpaid by the
licensee during the time specified under section 245-28 . Upon receipt
of the application and any bond required pursuant to subsection (b), the
department shall set the amount for deferred-payment purchases.
(b) The department may require that a licensee who submits an application
for deferred-payment purchases of stamps post a bond in an amount of up
to one hundred per cent of the maximum amount of allowed deferred-payment
purchases as a condition of department approval of the application.
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