DIVISION 2. OTHER TAXES 6001-60709›PART 2. MOTOR VEHICLE FUEL TAX LAW 7301-8526›CHAPTER 6. Collection of Tax 7851-7983›ARTICLE 4. Collection of Tax From Deposited Security 7916-7916

§ 7916

California Revenue and Taxation Code · 2018-11 edition · updated 2026-10-04 · California

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.

(Amended by Stats. 1987, Ch. 38, Sec. 7.)

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California Revenue and Taxation Code

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