Section 1775.1.

  

(a) For the calendar year 1995, and each calendar year thereafter, every surplus line broker whose annual tax for the preceding calendar year was five thousand dollars ($5,000) 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 provision, the commissioner may relieve a surplus line broker of his or her obligation to make monthly payments where 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 five thousand dollars ($5,000).

(Amended by Stats. 1994, Ch. 455, Sec. 2. Effective January 1, 1995.)