§ 7916
94 words·~1 min read·
/ca/revenue-and-taxation-code/7916A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
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.