Manufacturers' and importers' bonds.
Section 111
SEC. 111. Manufacturers' and importers' bonds.—Manufacturers and importers of articles subject to a specific tax shall give bond in an amount equal, as nearly as can be estimated, to twenty per cent of the taxes payable by them during an average year. Which bond shall be conditioned for the faithful compliance, during the time such business is followed, with the law and regulations relating to such business and for the payment of all taxes lawfully accruing in respect to the goods manufactured or imported, as well as for the satisfaction of all fines and penalties imposed by the Internal Revenue Law. No such bond shall be required in an amount exceeding twenty-five thousand pesos nor be received in a sum less than two hundred pesos.