432.4 - DEDUCTION FOR DEBTS.
432.4 DEDUCTION FOR DEBTS. No deduction or exemption from the taxes herein provided shall be allowed for or on account of any indebtedness owing by any such insurance company or association; provided, however, that companies doing a fire insurance business may deduct from the gross amount of premiums received, the amount of premiums returned upon canceled policies issued upon property situated in this state.
Section History: Early Form [C97, § 1333; S13, § 1333; C24, 27, 31, 35, 39, § 7024; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, § 432.4]