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Arizona Revised Statutes Title 20. Insurance § 20-108.01. Extended warranty insurers; deposit with state treasurer; powers and duties; definition

Current as of January 01, 2025 | Updated by Findlaw Staff

A. Every extended warranty insurer shall deposit with the state treasurer and maintain on deposit for the benefit and protection of any person purchasing such extended warranty or guaranty in the event of insolvency of the extended warranty insurer under its contract with any such person either of the following:

1. A bond in the amount of $25,000 issued by an insurance company holding a current certificate of authority issued by the director.

2. Eligible securities as defined in § 20-583 having the lesser of par or market value of not less than $25,000.

B. The director shall adopt rules and regulations to enforce this section.

C. For the purposes of this section, “extended warranty insurer” has the same meaning prescribed in § 20-108.

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Cite this article: FindLaw.com - Arizona Revised Statutes Title 20. Insurance § 20-108.01. Extended warranty insurers; deposit with state treasurer; powers and duties; definition - last updated January 01, 2025 | https://codes.findlaw.com/az/title-20-insurance/az-rev-st-sect-20-108-01/

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