§ 12075
38 words·~1 min read·
/ca/revenue-and-taxation-code/12075A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
“Losses incurred” means gross losses incurred during the current calendar year under ocean marine contracts written within the United States, less reinsurance claims collected or collectible and salvages or recoveries collectible from any source applicable to the losses.