Skip to main content
Find a Lawyer

U.S. Federal and State Cases, Codes, and Articles

Select a tab to search United States Cases, Codes, or Articles

Search for cases

Indicates required field

Search by keyword or citation

Indicates required field

Search blogs, article pages, and cases and codes

Indicates required field

Arizona Revised Statutes Title 20. Insurance § 20-650. Recovery of shareholder liability

Current as of March 08, 2022 | Updated by FindLaw Staff

A. The receiver of an insurer may file a claim in the receivership proceeding to recover the liability of shareholders under article XIV, § 11, Constitution of Arizona.

B. Any amount recovered in an action under this section shall be distributed in the same manner provided by law for the distribution of general assets of the estate.

C. The receiver shall bring an action pursuant to subsection A of this section, within four years of the entry of an order of liquidation or other order fixing the rights and liabilities of shareholders under § 20-635.

D. In an action pursuant to this section:

1. The defendant is not entitled to offset obligations of the insurer to the defendant, except that a defendant may file a claim with the receiver for those obligations.

2. The receiver shall recover costs and reasonable attorney fees.

Back to chapter list
Previous part of code Next part of code
Back to chapter list

Cite this article: FindLaw.com - Arizona Revised Statutes Title 20. Insurance § 20-650. Recovery of shareholder liability - last updated March 08, 2022 | https://codes.findlaw.com/az/title-20-insurance/az-rev-st-sect-20-650.html

Read this complete Arizona Revised Statutes Title 20. Insurance § 20-650. Recovery of shareholder liability on Westlaw

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.

Was this helpful?

Response sent, thank you

Welcome to FindLaw's Cases & Codes

A free source of state and federal court opinions, state laws, and the United States Code. For more information about the legal concepts addressed by these cases and statutes, visit FindLaw's Learn About the Law.

Go to Learn About the Law

Latest Blog Posts

For Legal Professionals

Learn About the Law

Get help with your legal needs

FindLaw’s Learn About the Law features thousands of informational articles to help you understand your options. And if you’re ready to hire an attorney, find one in your area who can help.

Go to Learn About the Law

Need to find an attorney?

Search our directory by legal issue

Enter information in one or both fields (Required)

    More Options
    Copied to clipboard