Arizona Revised Statutes Title 20. Insurance § 20-587. Excess deposits
Current as of March 08, 2022 | Updated by FindLaw Staff
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An insurer may so deposit cash or eligible securities in an amount exceeding its deposit required or otherwise permitted under this title by not more than one hundred thousand dollars, for the purpose of absorbing fluctuations in the value of securities held in its deposit, and to facilitate the exchange and substitution of securities deposited. During the solvency of the insurer any such excess deposit or part thereof shall be released to the insurer upon its request. During the insolvency of the insurer the excess deposit shall be released only as provided in § 20-588.
Cite this article: FindLaw.com - Arizona Revised Statutes Title 20. Insurance § 20-587. Excess deposits - last updated March 08, 2022 | https://codes.findlaw.com/az/title-20-insurance/az-rev-st-sect-20-587/
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