Laws, Regulations & Annotations
Business Taxes Law Guide – Revision 2017
Tax on Insurers Law
Chapter 2. Ocean Marine Insurance.
Article 2. Basis of Tax for Ocean Marine Insurance*
12106. Refunds to policyholders not included. In computing the tax of a marine insurer issuing participating policies, there shall not be included in underwriting profit the amounts refunded by the insurer on account of premiums previously paid by its policyholders.
History.—Added by Stats. 1961, p. 1981, operative January 1, 1962. Derived from former Section 12155.
* Stats. 1961, p. 1980, operative January 1, 1962, amended the title of Article 2 by substituting "Basis of Tax" for "Tax Base".