Laws, Regulations & Annotations

Property Taxes Law Guide – Revision 2010

Revenue and Taxation Code

Property Taxation

Part 2. Assessment

Chapter 3. Assessment Generally

Article 2. Information From Taxpayer

Section 441.1

441.1. Property statement; life insurance company. (a) Prior to July 1, 1996, each domestic life insurance company that owns real property in the county in a separate account established pursuant to Section 10506 of the Insurance Code, and each foreign life insurance company that owns real property in the county in a separate account established pursuant to the corresponding insurance laws of its state of domicile, shall file a property statement with the assessor that does all of the following:

(1) Identifies all real property in the county that is held on January 1, 1996, by the insurance company in separate accounts and all of the separate accounts in which the real property is held.

(2) Describes the parties to, the date of, and the amount paid with respect to, any transfer of a property interest to or from a separate account. In complying with the preceding sentence, the person shall indicate the name, address, and contact person of the relevant separate account, and shall supply any other information, as may be requested by the assessor, that is relevant to the assessment function and is information of a type described in subdivision (b) of Section 480.7. The property statement shall include a description, as required by this paragraph, of any transfer of a real property interest that occurred on or after January 1, 1985, and before January 1, 1996.

(b) (1) A property statement filed pursuant to subdivision (a) shall be declared to be true under penalty of perjury and shall be signed by either an officer of the filing life insurance company, or by an employee or agent of that insurance company who has been designated in writing by the company's board of directors to sign the statement on the company's behalf.

(2) A property statement filed pursuant to subdivision (a) shall be filed with the assessor either in person or through the United States mail, properly addressed with the postage prepaid.

(3) Any life insurance company required by subdivision (a) to file a property statement that fails to file that statement by July 1, 1996, shall be subject to a penalty of one thousand dollars ($1,000) in addition to any other penalty prescribed by law.

(4) On or before July 1, 1998, the assessor shall compile a list of life insurance companies that have filed a property statement pursuant to subdivision (a). The list shall consist of the name of each company and the date of filing. Notwithstanding Section 408 or 451, or any other provision of law, the list shall be a public record under the provisions of the California Public Records Act (Chapter 3.5 (commencing with Section 6250) of Division 7 of Title 1 of the Government Code).

(c) This section shall remain in effect only until January 1, 2004, and as of that date is repealed, unless a later enacted statute, that is enacted before January 1, 2004, deletes or extends that date.

History.—Added by Stats. 1995, Ch. 933, in effect January 1, 1996. Stats. 1997,Ch. 94 (SB 76) in effect January 1, 1998, added paragraph (4) of subdivision (b) and substituted "remain . . . as of that date" for "become inoperative on July 1, 1997, and, as of January 1, 1998," after "shall", substituted "is enacted" for "becomes operative on or" after "statute, that", substituted "2004" for "1998" after "before January 1," and substituted "that date." for "the dates on which it becomes inoperative and is repealed." after "extends" in the first sentence of subdivision (c).