§ 4-07 Adhesive Stamps.
RCNY § 4-07
(a)The Commissioner of Finance has prescribed adhesive stamps in two-cent and four-cent denominations. These stamps are on sale at banks throughout the city designated by the Commissioner of Finance as fiscal agents or sub-agents. Agents shall purchase stamps at the bank to which they have been assigned, either for each or upon thirty days' credit. An agent may purchase stamps from the banks over the counter or by mail. In the latter case, no shipping charge will be made by the bank. Payment for stamps shall be made by cash or by certified check.
(b)The Commissioner of Finance will prescribe and furnish stamps of such denominations and quantities and in such form as may be necessary for the payment of the tax imposed by the law. He may, from time to time, provide for the issuance and exclusive use of a new design and forbid the use of stamps of any other design. Such stamps shall be in the form of a single stamp for the payment of the tax imposed by the law, or in lieu thereof, a joint stamp prepared and issued by the State of New York and the city for the payment of both the tax imposed by the City Cigarette Tax Law and the tax imposed by Article 20 of the Tax Law (New York State Cigarette Tax), may be used.
(c)Whenever such a joint stamp is prescribed, it shall be used exclusively in lieu of any other form of stamp for the payment of the tax imposed by both the city and state laws. The Commissioner of Finance will appoint fiscal agents for the purpose of selling the stamps or may provide for the sale thereof at such other places as he may deem necessary. The Commissioner of Finance shall require each fiscal agent, appointed by him for the purpose of selling the stamps herein prescribed, to file with him a surety bond, in such form and in such amount as he deems appropriate, issued by a surety company licensed to do business in the State of New York, conditioned upon the faithful performance of any agreement made between the Commissioner of Finance of the City of New York and said fiscal agent, and to secure the Commissioner of Finance, or the City of New York against any loss or damage in any manner resulting from the acts of said fiscal agent or its employees. In lieu of the bond described in this paragraph, a fiscal agent may deposit with the Commissioner of Finance its personal bond together with securities, approved by the Commissioner of Finance, in such amounts as he may require. Such securities shall be kept in the custody of the Commissioner of Finance. Securities so deposited may be sold by the Commissioner of Finance, should it become necessary to do so, to recover any sums due from a fiscal agent pursuant to this article; but no such sale shall be had until a fiscal agent shall have had an opportunity to be heard regarding the amount due hereunder. Upon any such sale the surplus, if any, above the sums due shall be returned to such fiscal agent.
