Statute · California Revenue and Taxation Code
Cal. Rev. & Tax. Code § 7916 — Collection of Tax From Deposited Security
Cal. Rev. & Tax. Code § 7916
- Type
- Statute
- Source
- California Revenue and Taxation Code
- Jurisdiction
- California
- Current through
- Nov 2, 2026 (California Legislative Counsel)
Upon receipt of a certificate of the Controller setting forth the amount of a taxpayer’s delinquencies, the board shall pay to the Controller the amount so certified from the money deposited with the board by the taxpayer or from the amounts received from the sale of bonds or other obligations…
Citator
Cal. Rev. & Tax. Code § 7916 — Collection of Tax From Deposited Security is in force in the current edition of the Code, and nothing recorded condemns it.
Upon receipt of a certificate of the Controller setting forth the amount of a taxpayer’s delinquencies, the board shall pay to the Controller the amount so certified from the money deposited with the board by the taxpayer or from the amounts received from the sale of bonds or other obligations deposited with the board by the taxpayer. Securities deposited with the board which have a prevailing market price may be sold by the board for the purposes of this section at private sale at a price not lower than the prevailing market price thereof.