Laws, Regulations & Annotations


Business Taxes Law Guide – Revision 2021

Hazardous Substances Tax Law


Article 2. Registration and Security.

Section 43102

43102. Security. The board, whenever it deems it necessary to ensure compliance with this part, may require any person subject to this part to place with it any security that the board determines to be reasonable, taking into account the circumstances of that person. Any security in the form of cash, government bonds, or insured deposits in banks or savings and loan institutions shall be held by the board in trust to be used solely in the manner provided by this section. The board may sell the security at public auction if it becomes necessary to do so in order to recover any tax or any amount required to be collected, including any interest or penalty due. Notice of the sale shall be served upon the person who placed the security personally or by mail. If service is made by mail, service shall be addressed to the person at his or her address as it appears in the records of the board. Service shall be made at least 30 days prior to the sale in the case of personal service, and at least 40 days prior to the sale in the case of service by mail. Upon any sale, any surplus above the amounts due shall be returned to the person who placed the security.

History.—Stats. 1982, Ch. 496, in effect July 12, 1982, substituted "to this part" for "thereto" after "subject" and added "to be … person" after "determine" in the first sentence; added "including any" after "collected in the second sentence; substituted "shall" for "may" after "sale" in the third sentence; deleted "made … shall be" before "addressed" in the fourth sentence; and, added a new fifth sentence. Stats. 1991, Ch. 236, in effect July 29, 1991, substituted "ensure" for "insure" after "necessary to"; and added the second sentence. Stats. 1994, Ch. 903, in effect January 1, 1995, substituted "any security that the board determines" for "such security as the board may determine" after "place with it" in the first sentence, and deleted "Security in the form of a bearer bond issued by the United States or the State of California which has a prevailing market price may, however, be sold by the board at private sale at a price not lower than the prevailing market price thereof." as the next to last sentence.