Laws, Regulations & Annotations
Business Taxes Law Guide – Revision 2012
Tax on Insurers Law
Chapter 3. All Insurance Other Than Ocean Marine.
Article 3. Basis of Tax for Title Insurers
12232. "Investments" defined. "Investments," as used in Section 12231, includes property acquired by an insurer in the settlement or adjustment of claims against it but excludes investments in title plants and title records. Income derived directly or indirectly from the use of title plants and title records is included in the basis of the tax.
History.—Added by Stats. 1961, p. 1983, operative January 1, 1962. Derived from former Section 12254.