California Revenue and Taxation Code

§ 12077

RTC § 12077Div. 2 · Part 7 · Ch. 2 · Art. 1

Statute text

“Specific expenses” means expenses incurred directly and specifically in connection with earned ocean marine premiums, including all commissions, agency expenses, taxes, licenses, fees, and loss-adjustment expenses, less recoveries or reimbursements on account of or in connection with the commissions or other expenses collected or collectible because of reinsurance or from any other source.

Legislative history

Added by Stats. 1941, Ch. 113.