Certain Nevada tobacco manufacturers are subject to new surety legislation. The new law is named SB 79 and requires certain nonparticipating tobacco manufacturers to acquire a surety bond in order to be included in the State’s directory of tobacco manufacturers and cigarette brands. The bond will be required if the manufacturer’s cigarettes have been sold out of state in the four previous calendar quarters; if the manufacturer purposely failed to make a deposit of its required escrow funds in the prior five calendar years; or if the manufacturer had been terminated from any state’s directory in the past five calendar years. The surety bond must be $25,000.
Eric is the Chief Marketing Officer of JW Surety Bonds. With years of experience in the surety industry, he is also a contributing author to the surety bond blog. He has held a range of different roles within the surety industry, from agent assistant to bond issuer, which gives him a unique insider perspective on surety related topics.