Section 12232 Of Article 3. Basis Of Tax For Title Insurers From California Revenue And Taxation Code >> Division 2. >> Part 7. >> Chapter 3. >> Article 3.

. "Investments," as used in Section 12231, includes property acquired by an insurer in the settlement or adjustment of claims against it but excludes investments in title plants and title records. Income derived directly or indirectly from the use of title plants and title records is included in the basis of the tax.