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BTLG Table of Contents > Tax on Insurers Law > Chapter 2 > Section 12106

Tax on Insurers Law

Revenue and Taxation Code

Division 2. Other Taxes
Part 7. Insurance Taxation

Chapter 2. Ocean Marine Insurance

Article 2. Basis of Tax for Ocean Marine Insurance*

Section 12106

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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.

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* Stats. 1961, p. 1980, operative January 1, 1962, amended the title of Article 2 by substituting "Basis of Tax" for "Tax Base".