Sec. 1.822-11 Net premiums.
The term "net premiums", defined in section
822(f)(1), includes deposits and assessments, but excludes amounts returned to policyholders which are treated as dividends under section
822(f)(2). Net premiums are used in sections
822(c)(6) and
832(c)(5)in determining the limitation on certain capital losses and in the application of section
1212.
[T.D. 6681, 28 FR 11115, Oct. 17, 1963]