California Revenue and Taxation Code 12074 – “Net earned premiums” means the amount arrived at …
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“Net earned premiums” means the amount arrived at by:
(a) Deducting all return premiums, premiums on policies not taken, and premiums paid for reinsurance, from
Terms Used In California Revenue and Taxation Code 12074
- Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
(b) Gross premiums on ocean marine insurance contracts written during the current calendar year, to which remainder is added
(c) Unearned premiums on outstanding ocean marine business at the end of the preceding calendar year, and from which sum is deducted
(d) Unearned premiums on outstanding ocean marine business at the end of the current calendar year.
(Added by Stats. 1941, Ch. 113.)