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Business Taxes Law Guide – Revision 2023
 

Tax on Insurers Law

Revenue and Taxation Code

Division 2. Other Taxes
Part 7. Insurance Taxation

Chapter 7. Cancellations and Refunds*

Article 1. Cancellations¹

Section 12951


12951. Cancellation of assessment. [Repealed by Stats. 2013, Ch. 33 (SB 78) in effect June 27, 2013.]


Text of Section Operative July 1, 2012, Through June 30, 2013

12951. Cancellation of assessment. (a) If any amount has been illegally assessed, the board shall set forth that fact in its records, certify the amount determined to be assessed in excess of the amount legally assessed and the insurer, surplus line broker, or Medi-Cal managed care plan against which the assessment was made, and authorize the cancellation of the amount upon the records of the Controller and the board. The board shall mail a notice to the insurer, surplus line broker, or Medi-Cal managed care plan of any cancellation authorized. Any proposed determination by the board pursuant to this section with respect to an amount in excess of fifty thousand dollars ($50,000) shall be available as a public record for at least 10 days prior to the effective date of that determination.

(b) This section shall be operative on July 1, 2012, and become inoperative on July 1, 2013. As of January 1, 2015, this section shall be repealed.

History—Added by Stats., 2013, Ch. 33 (SB 78), in effect June 27, 2013, but operative July 1, 2012.


Text of Section Operative July 1, 2013

12951. Cancellation of assessment. (a) If any amount has been illegally assessed, the board shall set forth that fact in its records, certify the amount determined to be assessed in excess of the amount legally assessed and the insurer or surplus line broker against which the assessment was made, and authorize the cancellation of the amount upon the records of the Controller and the board. The board shall mail a notice to the insurer or surplus line broker of any cancellation authorized. Any proposed determination by the board pursuant to this section with respect to an amount in excess of fifty thousand dollars ($50,000) shall be available as a public record for at least 10 days prior to the effective date of that determination.

(b) This section shall become operative on July 1, 2013.

History—Added by Stats., 2013, Ch. 33 (SB 78), in effect June 27, 2013, but operative July 1, 2013.


* Stats. 1961, p. 1990, operative January 1, 1962, amended the title of Chapter 7 from "corrections" to "cancellations and refunds".

¹ Stats. 1961, p. 1990, operative January 1, 1962, amended the title of Article 1 from "generally" to "cancellations".