N.J.S.A. 54:16-5

Losses incurred; definition

54:16-5. Losses incurred; definition As used in this chapter "losses incurred" means gross losses incurred during the calendar year under such marine insurances written within the United States, less reinsurance claims collected or collectible and salvages or recoveries collectible from any source applicable to such losses.

External source: View on Justia →

This is the verbatim text of N.J.S.A. 54:16-5, retrieved from the New Jersey Legislature's public statute corpus. Statutes are amended periodically — for the most current version, check the external source link above. Kyzer is not a law firm and this page is not legal advice.