Laws, Regulations & Annotations

Business Taxes Law Guide – Revision 2013
 

Tax on Insurers Law

Chapter 4. Assessment and Effect of Tax*

Article 4. Effect of Tax

Section 12493

Text of section operative through June 30, 2012

12493. Lien has effect of execution. (a) Every lien has the effect of an execution duly levied against all property of a delinquent insurer, surplus line broker, or Medi-Cal managed care plan.

(b) This section shall become inoperative on July 1, 2012, and, as of January 1, 2013, is repealed, unless a later enacted statute, that becomes operative on or before July 1, 2012, deletes or extends the dates on which it becomes inoperative and is repealed.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. 1941, Ch. 113, operative July 1, 1943. Stats. 2005, Ch. 231 (AB 1424), in effect January 1, 2006, added "or surplus line broker" after "all property of a delinquent insurer." Stats. 2009, Ch. 157 (AB 1422), in effect September 22, 2009, designated the first sentence as subdivision (a), deleted "or" and added a comma before "surplus line broker" and added ", or Medi-Cal managed care plan" after "surplus line broker" 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(b) which provided that "This section shall remain in effect only until January 1, 2011, and as of that date is repealed."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

12493. Lien has effect of execution. (a) Every lien has the effect of an execution duly levied against all property of a delinquent insurer or surplus line broker.

(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. 11x1 (ABx1 21), 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".