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Arizona Revised Statutes Title 20. Insurance § 20-170. Prohibited acts during sixty day period of supervision

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

During the period of supervision, the director may appoint a supervisor to supervise such insurance company and may provide that the insurance company may not do any of the following things, during the period of supervision, without the prior approval of the director or his supervisor:

1. Dispose of, convey or encumber any of its assets or its business in force;

2. Withdraw any of its bank accounts;

3. Lend any of its funds;

4. Invest any of its funds;

5. Transfer any of its property;

6. Incur any debt, obligation or liability;

7. Merge or consolidate with another company; or

8. Enter into any new reinsurance contract or treaty.

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Cite this article: FindLaw.com - Arizona Revised Statutes Title 20. Insurance § 20-170. Prohibited acts during sixty day period of supervision - last updated January 01, 2025 | https://codes.findlaw.com/az/title-20-insurance/az-rev-st-sect-20-170/

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 before relying on it for your legal needs.

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