California Revenue and Taxation Code 12232 – “Investments,” as used in Section 12231, includes property acquired …
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“Investments,” as used in Section 12231, includes property acquired by an insurer in the settlement or adjustment of claims against it but excludes investments in title plants and title records. Income derived directly or indirectly from the use of title plants and title records is included in the basis of the tax.
(Added by Stats. 1961, Ch. 740.)
Terms Used In California Revenue and Taxation Code 12232
- Insurer: as used in this part includes each of the following:
California Revenue and Taxation Code 12003
- Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.