Issuance of license prohibited until bond approved; cancellation or expiration of bond

Issuance of license prohibited until bond approved; cancellation or expiration of bond. — A license may not be issued to a manufacturer or distributor until the bond herein provided for has been approved by the division. If at any time the bond is canceled or expires, the licensee is enjoined from making any further purchases, sales, distribution, or exportation of alcoholic beverages until a new bond is secured and approved by the division.