A bond prescribed in § 24.146 may be terminated as to future liability pursuant to application by the surety as provided in § 24.157; pursuant to approval of a superseding bond; upon receipt of notification from the principal that the business has been discontinued and all wine and spirits have been removed from the bonded wine premises as provided in § 24.140(b); pursuant to an application by an existing proprietor who becomes exempt from bond requirements as provided in § 24.160; or in the case of a tax deferral bond, the termination will be issued upon receipt of written notification from the principal that removals of wine requiring a tax deferral bond have been discontinued.

(Sec. 201, Pub. L. 85-859, 72 Stat. 1379, as amended (26 U.S.C. 5354)) (Approved by the Office of Management and Budget under control number 1512-0058) [T.D. ATF-299, 55 FR 24989, June 19, 1990, as amended by T.D. TTB-146, 82 FR 1125, Jan. 4, 2017]