Revenue and Taxation Code - RTC
DIVISION 2. OTHER TAXES [6001 - 61050]
( Heading of Division 2 amended by Stats. 1968, Ch. 279. ) PART 7. INSURANCE TAXATION [12001 - 13170]
( Part 7 added by Stats. 1941, Ch. 113. ) CHAPTER 2. Ocean Marine Insurance [12071 - 12107]
( Chapter 2 added by Stats. 1941, Ch. 113. ) ARTICLE 2. Basis of Tax for Ocean Marine Insurance [12101 - 12107]
( Heading of Article 2 amended by Stats. 1961, Ch. 740. ) 12106.
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.
(Added by Stats. 1961, Ch. 740.)