The Arizona Revised Statutes have been updated to include the revised sections from the 54th Legislature, 1st Regular Session. Please note that the next update of this compilation will not take place until after the conclusion of the 54th Legislature, 2nd Regular Session, which convenes in January 2020.
This online version of the Arizona Revised Statutes is primarily maintained for legislative drafting purposes and reflects the version of law that is effective on January 1st of the year following the most recent legislative session. The official version of the Arizona Revised Statutes is published by Thomson Reuters.
A. Every escrow agent who is also a title insurer or title insurance agent licensed under title 20 shall make escrow rates that are not excessive or inadequate for the safety and soundness of the escrow agent, that do not unfairly discriminate between risks in this state which involve essentially the same exposure to loss and expense elements and that give due consideration to the following:
1. The desirability for stability of rate structures.
2. The necessity, by encouraging growth in assets of escrow agents in periods of high business activity, of assuring the financial solvency of escrow agents in periods of economic depression.
3. The necessity for paying dividends on the capital stock of escrow agents sufficient to induce capital to be invested in the capital stock.
B. Every escrow agent who is required to make escrow rates under subsection A shall adopt basic classifications of escrow services that will be used as the basis for its escrow rates.
C. Rates for escrow services and title insurance policies that are issued in connection with escrow services shall not be combined.