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Section 1775.1 Of Chapter 6. Surplus Line Brokers From California Insurance Code >> Division 1. >> Part 2. >> Chapter 6.
1775.1
. (a) Each calendar year, every surplus line broker whose
annual tax for the preceding calendar year was twenty thousand
dollars ($20,000) or more shall make monthly installment payments on
account of the annual tax on business done during the current
calendar year imposed by Section 1775.5.
(b) Notwithstanding any other law, the commissioner may relieve a surplus line broker of his or her obligation to make monthly payments if the broker establishes to the satisfaction of the commissioner that either the broker has ceased to transact business in this state, or his or her annual tax for the current year will be less than twenty thousand dollars ($20,000).
(b) Notwithstanding any other law, the commissioner may relieve a surplus line broker of his or her obligation to make monthly payments if the broker establishes to the satisfaction of the commissioner that either the broker has ceased to transact business in this state, or his or her annual tax for the current year will be less than twenty thousand dollars ($20,000).
