California § 12073
Full text of California Public Contract Code - PCC § 12073, with citation guidance and answers to common questions.
§ 12073.
âUnderwriting profit,â as respects any one calendar year, means the amount arrived at by deducting from the net earned premiums of that calendar year on ocean marine insurance contracts written within the United States: (a) Losses incurred. (b) Expenses incurred. In arriving at âunderwriting profitâ there shall not be deducted as expenses incurred an amount exceeding 40 per cent of the gross premiums on ocean marine insurance contracts written during the current calendar year.
Frequently Asked Questions About California § 12073
What does Public Contract Code - PCC § 12073 cover?
Section 12073 is part of the Public Contract Code - PCC, the codified statutory law of California. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite California § 12073?
A common citation format is "Public Contract Code - PCC § 12073" (California). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of California law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the California official source linked on this page or consult a licensed California attorney.
How does California § 12073 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in California can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in California.