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Business Taxes Law Guide—Revision 2024
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 [Repealed by Stats. 2013, Ch. 33 (SB 78) in effect June 27, 2013.]
12951. Cancellation of assessment. [Repealed by Stats. 2013, Ch. 33 (SB 78), effective January 1, 2015.]
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 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 after 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. 2024, Ch. 499 (SB 1528), in effect January 1, 2025, deleted "proposed" before "determination" and substituted "after" for "prior to" after "10 days" in the third sentence of subdivision (a).
* 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".