Laws, Regulations & Annotations

Business Taxes Law Guide – Revision 2011
 

Tax on Insurers Law

Chapter 4. Assessment and Effect of Tax*

Article 4. Effect of Tax

Section 12494

Text of section operative through June 30, 2011

12494. Removal of lien. (a) No judgment is satisfied nor lien removed until either:

(1) The taxes, interest, penalties, and costs are paid.

(2) The insurer's, surplus line broker's, or Medi-Cal managed care plan's property is sold for the payment thereof.

deletion(b) This section shall become inoperative on July 1, 2011, and, as of January 1, 2012, is repealed, unless a later enacted statute, that becomes operative on or before January 1, 2012, deletes or extends the dates on which it becomes inoperative and is repealed.

History.—Added by Stats. 1941, Ch. 113, operative July 1, 1943. Stats. 1959, p. 1892, in effect April 1, 1959, added "interest" in subdivision (a). Stats. 2005, Ch. 231 (AB 1424), in effect January 1, 2006, added "or surplus line broker's" after "The insurer's" in subdivision (b). Stats. 2009, Ch. 157 (AB 1422), in effect September 22, 2009, designated first sentence as subdivision (a), redesignated former subdivisions (a) and (b) as paragraphs (1) and (2), respectively, deleted "or" and added a comma before "surplus line broker's", and added ", or Medi-Cal managed care plan's" before "property is sold" in subdivision (a); and added subdivision (b). Stats. 2010, Ch. 717 (SB 853), in effect October 19, 2010, deleted former subdivision (b) which provided that "This section shall remain in effect only until January 1, 2011, and as of that date is repealed." and added the new subdivision (b).

Text of section operative deletionJuly 1, 2011

12494. Removal of lien. (a) No judgment is satisfied nor lien removed until either:

(1) The taxes, interest, penalties, and costs are paid.

(2) The insurer's or surplus line broker's property is sold for the payment thereof.

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

History.—Added by Stats. 2009, Ch. 157 (AB 1422), in effect September 22, 2009, but operative January 1, 2011. Stats. 2010, Ch. 717 (SB 853), in effect October 19, 2010, substituted "July 1, 2011" for "January 1, 2011" after "operative on" in subdivision (b).

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