Laws, Regulations & Annotations

Business Taxes Law Guide – Revision 2018

Tax on Insurers Law

Chapter 2. Ocean Marine Insurance.

Article 2. Basis of Tax for Ocean Marine Insurance*

Section 12106

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".