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DIVISION 2. OTHER TAXES 6001-60709›PART 7. INSURANCE TAXATION 12001-13170›CHAPTER 2. Ocean Marine Insurance 12071-12107›ARTICLE 1. Definitions 12071-12078

§ 12077

California Revenue and Taxation Code · 2018-11 edition · updated 2026-10-04 · California

“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.

(Added by Stats. 1941, Ch. 113.)

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California Revenue and Taxation Code

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