Those engaging in the operation of aircraft to transport persons or property and are entitle to a rerfund on the tax paid for aviation fuel are required under the KRS 138.341(2) to file a Kentucky Aviation Gasoline Tax Refund Bond as a condition of refund.
A surety bond protects the party requesting the bond, the Obligee, against any financial losses as a result of poor financial decisions, damages, unethical decisions, or a failure to follow state and local laws on the part of you, the Principal. The Kentucky Aviation Gasoline Tax Refund Bond holds you accountable for your business decisions.
By possessing a Kentucky Aviation Gasoline Tax Refund Bond, you are telling your Obligee that you can be trusted as a Principal and that you stand behind your business decisions.