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Current as of March 08, 2022 | Updated by FindLaw Staff
A. Funding authorized or required for payment of a judgment for periodic installments shall be approved by the court as sufficient to guarantee financial solvency and be in one or more of the following forms:
1. An annuity contract issued by one or more qualified insurers.
2. An agreement by one or more qualified insurers to fund the judgment.
3. Any other form of funding which the court approves and to which the claimant consents.
B. Funding under this section qualifies as a required supersedeas bond.
C. In the event of a qualified assignment under § 130 of the internal revenue code of 1986, as amended, 1 the qualified assignee and any qualified insurer shall be jointly and severally liable but the qualified insurer's obligation shall be the primary obligation.
Cite this article: FindLaw.com - Arizona Revised Statutes Title 12. Courts and Civil Proceedings § 12-588. Form of funding - last updated March 08, 2022 | https://codes.findlaw.com/az/title-12-courts-and-civil-proceedings/az-rev-st-sect-12-588/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
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