The Arizona Revised Statutes have been updated to include the revised sections from the 56th Legislature, 1st Regular Session. Please note that the next update of this compilation will not take place until after the conclusion of the 56th Legislature, 2nd Regular Session, which convenes in January 2024.
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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.
20-212 - Funds required to transact additional kinds of insurance
20-212. Funds required to transact additional kinds of insurance
An insurer otherwise qualified may be authorized to transact combinations of kinds of insurance, other than the life and disability combination shown in section 20-210, while possessing and maintaining thereafter additional minimum required capital stock, if a stock insurer, or additional minimum required basic surplus, if a mutual or reciprocal insurer, not less in amount than that determined as follows: For any lawful combination add two hundred thousand dollars for each additional kind of insurance included in the combination to the amount required under section 20-210 for that one kind of insurance in the combination for which the largest amount is required under said section 20- 210, except:
1. Vehicle and disability insurances may be combined with casualty, and in any combination including casualty, without funds in addition to those required because of casualty.
2. With such additional minimum required capital stock or such additional minimum required basic surplus in an amount of not less than five hundred thousand dollars, an insurer, if otherwise qualified, may be authorized to transact all kinds of insurance except life and title insurance. Any domestic stock insurer which on January 1, 1954, was lawfully authorized to transact vehicle insurance, for physical damage only, or casualty insurance, and while possessing paid-in capital of not less than two hundred fifty thousand dollars, may be so authorized to transact all kinds of insurance other than life and title insurances.
3. The amount of such capital or surplus shall not in any event be less than would be required if the insurer proposed to transact in this state all those kinds of insurance which it is transacting elsewhere.