Laws, Regulations & Annotations

Business Taxes Law Guide – Revision 2010
 

Tax on Insurers Law

Chapter 4. Assessment and Effect of Tax*

Article 3. Deficiency Assessments

Section 12427

12427. Notice of deficiency assessment. (a) The board shall promptly notify the insurer, deletionsurplus line broker, or Medi-Cal managed care plan of a deficiency assessment made against the insurer, deletionsurplus line broker, or Medi-Cal managed care plan.

(b) This section shall remain in effect only until January 1, 2011, and as of that date is repealed.

History.—Added by Stats. 1961, p. 1986, operative January 1, 1962. Stats. 1995, Ch. 721, in effect January 1, 1996, added "or surplus line broker" after "notify the insurer" and after "against the insurer". Stats. 2009, Ch. 157 (AB 1422), in effect September 22, 2009, designated the first sentence as subdivision (a), and deleted "or" and added a comma before "surplus line broker", and added ", or Medi-Cal managed care plan" twice in subdivision (a); and added subdivision (b).

Text of section operative January 1, 2011

12427. Notice of deficiency assessment. (a) The board shall promptly notify the insurer or surplus line broker of a deficiency assessment made against the insurer or surplus line broker.

(b) This section shall become operative on January 1, 2011.

History.—Added by Stats. 2009, Ch. 157 (AB 1422), in effect September 22, 2009, but operative January 1, 2011.

* Stats. 1961, p. 1984, operative January 1, 1962, amended the title of Chapter 4 by substituting "Effect of Tax" for "Levy".