Section 2281 - Tax on marine insurance underwriting profitsThe term "marine insurance" and "marine business" and "marine risks" shall mean insurance or reinsurances against any and all kinds of loss of or damage to:
(a) Vessels, craft, aircraft, cars, automobiles, and vehicles of every kind (excluding automobiles operating under their own power, or while in storage not incidental to transportation), as well as all goods, freights, cargoes, merchandise, effects, disbursements, profits, moneys, bullion, precious stones, securities, choses in action, evidences of debt, valuable papers, bottomry, and respondentia interests, and all other kinds of property and interests therein in respect to, appertaining to, or in connection with any and all risks or perils of navigation, transit or transportation, including war risks, on or under any seas or other waters, on land or in the air, or while being assembled, packed, crated, baled, compressed, or similarly prepared for shipment, or while awaiting the same, or during any delays, storage, transhipment or reshipment incident thereto, including marine builder's risks, and all personal property floater risks; and(b) Person or to property in connection with or appertaining to a marine, inland marine transit or transportation insurance, including liability for loss of or damage to, either arising out of or in connection with, the construction, repair, operation, maintenance or use of the subject matter of such insurance (but not including life insurance or surety bonds); but, except as herein specified, shall not mean insurances against loss by reason of bodily injury to the person:(c) Provided, however, That nothing contained in this section shall apply to inland marine transit, or transportation insurance by land, where the risk begins and ends in the United States.1927, May 13, P.L. 998, § 1.