Laws, Regulations & Annotations

Business Taxes Law Guide – Revision 2011
 

Alcoholic Beverage Tax Law

CHAPTER 3. REGISTRATION AND BONDS

Section 32102

32102. Surety bond. The board, whenever it deems it necessary to ensure compliance with this part, may require any person subject thereto, to place with it that security as the board may determine, in the form and amount as the board prescribes. Any security in the form of cash, insured deposits in banks and savings and loan institutions, or a bond or bonds duly executed by an admitted surety insurer, payable to the state, conditioned upon faithful performance of all the requirements of this part, and expressly providing for the payment of all license taxes, penalties, and other obligations of the person arising out of this part, shall be held in trust to be used solely in the manner provided by this section.

History.—Stats. 1982, Ch. 517, in effect January 1, 1983 substituted "an admitted surety insurer" for "him . . . surety" after "executed by." Stats. 1993, Ch. 1113, in effect January 1, 1994, substituted "the" for "such" after "board, in", added "and amount" after "form", added "any security . . ., or" after "prescribes,", added "duly" after "bonds", deleted "people of the" after "to the", substituted "state" for "State of California", added "faithful . . . providing for" after "upon", added "license" after "of all", substituted "person" for "taxpayer" after "obligations of the", substituted "out of" for "under" after "arising", and added ", shall be . . . section" after "part". Stats. 1996, Ch. 1087, in effect January 1, 1997, substituted "The board, whenever . . . board prescribes. Any" for "Every taxpayer shall file with the board, in the form and amount as the board prescribes, a" at the beginning of the section.