House Engrossed

 

 

 

State of Arizona

House of Representatives

Fifty-fourth Legislature

First Regular Session

2019

 

 

 

CHAPTER 113

 

HOUSE BILL 2674

 

 

AN ACT

 

Amending section 20‑103, Arizona Revised Statutes; relating to insurance.

 

 

(TEXT OF BILL BEGINS ON NEXT PAGE)

 


Be it enacted by the Legislature of the State of Arizona:

Section 1.  Section 20-103, Arizona Revised Statutes, is amended to read:

START_STATUTE20-103.  Definition of insurance; exceptions

A.  For the purposes of this title, except as otherwise provided, "insurance" is a contract by which one undertakes to indemnify another or to pay a specified amount upon on determinable contingencies.

B.  Private ambulance service contracts or private fire protection service contracts are not insurance, and this title does not apply to those contracts.

C.  Charitable gift annuities that are issued pursuant to section 20‑119 are not insurance and, except as provided in section 20‑119, this title does not apply to agreements for those annuities.

D.  Collision damage waivers are not insurance, and this title does not apply to those waivers.

E.  Direct primary care provider plans that are issued pursuant to title 44, chapter 11, article 25 are not insurance, and this title does not apply to those plans.

F.  Guaranteed asset protection waivers are not insurance, and this title does not apply to those waivers.  For the purposes of this subsection, "guaranteed asset protection waiver" means a contractual agreement that is a part of or an addendum to a borrower's finance agreement wherein a creditor agrees for a separate charge to cancel or waive all or part of the amount due on the borrower's finance agreement in the event of a total physical damage loss or unrecovered theft of a motor vehicle. END_STATUTE


 

 

 

 

APPROVED BY THE GOVERNOR APRIL 22, 2019.

 

FILED IN THE OFFICE OF THE SECRETARY OF STATE APRIL 22, 2019.