Laws, Regulations & Annotations

Business Taxes Law Guide – Revision 2013
 

Tax on Insurers Law

Chapter 4. Assessment and Effect of Tax*

Article 3. Deficiency Assessments

Section 12433

Text of section operative through June 30, 2012

12433. Waiver of limitation. (a) If before the expiration of the time prescribed in Section 12432 for giving of a notice of deficiency assessment the insurer, surplus line broker, or Medi-Cal managed care plan has consented in writing to the giving of the notice after that time, the notice may be given at any time prior to the expiration of the time agreed upon. The period so agreed upon may be extended by subsequent agreements in writing made before the expiration of the period previously agreed upon.

(b) This section shall become inoperative on July 1, 2012, and, as of January 1, 2013, is repealed, unless a later enacted statute, that becomes operative on or before July 1, 2012, deletes or extends the dates on which it becomes inoperative and is repealed.

History.—Added by Stats. 1961, p. 1987, operative January 1, 1962. Stats. 1995, Ch. 721, in effect January 1, 1996, added "or surplus line broker" after "assessment the insurer" in the first sentence. Stats. 2009, Ch. 157 (AB 1422), in effect September 22, 2009, designated the first paragraph as subdivision (a), deleted "or" and added a comma before "surplus line broker", added ", or Medi-Cal managed care plan" after "surplus line broker", and substituted "that" for "such" after "giving of the notice after" 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(b) which provided that "This section shall remain in effect only until January 1, 2011, and as of that date is repealed."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). Stats. 2011, Ch. 11x1 (ABx1 21), in effect September 16, 2011, substituted "2012" for "2011" after "inoperative on July 1,", substituted "2013" for "2012" after "as of January 1,", substituted "July" for "January" after "operative on or before" in subdivision (b).

Text of section operative July 1, 2012

12433. Waiver of limitation. (a) If before the expiration of the time prescribed in Section 12432 for giving of a notice of deficiency assessment the insurer or surplus line broker has consented in writing to the giving of the notice after that time, the notice may be given at any time prior to the expiration of the time agreed upon. The period so agreed upon may be extended by subsequent agreements in writing made before the expiration of the period previously agreed upon.

(b) This section shall become operative on July 1, 2012.

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. 2011, Ch. 11x (AB 21 X), in effect September 16, 2011, substituted "2012" for "2011" after "operative on July 1," in subdivision (b).

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