(a) A transient vendor that is required to post a bond under this regulation, 830 CMR 62C.66.1, may post with the Commissioner a surety bond, issued by a company authorized to transact business as a surety in Massachusetts, in the amount calculated under 830 CMR 62C.66.1(3), above, or may deposit with the state treasurer negotiable obligations of the United States or the Commonwealth of the same actual value. The surety bond or evidence of obligations deposited with the state treasurer must be directed to:
Massachusetts Department of Revenue Revenue Enforcement BureauXXXXXbr /> Cambridge, MA 02142
(b) In order to facilitate the posting of bond on weekends, holidays, or other times when it is difficult either to post bond with the state treasurer or to obtain a surety bond, the Commissioner will, at the option of the transient vendor, accept cash in the amount of the required bond. The Commissioner will give the transient vendor a written receipt for the cash received and will deposit the cash in the transient vendor's name with the state treasurer as soon as is possible.
(c) The bond must be maintained until it is released by the Commissioner, pursuant to 830 CMR 62C.66.1(6), below.