If any person liable for any amount under this part sells out his or her business or stock of goods or quits the business, his or her successor or assigns shall withhold from the purchase price an amount sufficient to cover that amount until the former owner produces a receipt from the board showing that it has been paid or a certificate stating that no amount is due.
Cal. Rev. & Tax. Code § 46451
Successor Withholding and Liability
Known as the Oil Spill Response, Prevention, and Administration Fees Law
The act spans §§ 46001–46751 (158 sections).
Added by Stats. 1991, Ch. 300, Sec. 6
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.