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.
DISCLAIMER
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.
In this article, unless the context otherwise requires:
1. "Accredited state" means a state in which the insurance department or other regulatory agency has qualified as meeting the minimum financial regulatory standards that are adopted and established by the national association of insurance commissioners.
2. "Control" or "controlled" has the same meaning prescribed in section 20-481.
3. "Controlled insurer" means a licensed insurer who is controlled by a producer.
4. "Controlling producer" means a producer who controls, directly or indirectly, an insurer.
5. "Licensed insurer" or "insurer" means a person, firm, association or corporation that is duly licensed to transact property or casualty insurance business in this state. For the purposes of this article, licensed insurer or insurer does not include a:
(a) Residual market pool and joint underwriting authority or association.
(b) Captive insurer. For the purposes of this subdivision, "captive insurer" means an insurance company, other than a risk retention group as defined in section 20-1098 or 20-2401, that is owned by another organization and whose exclusive purpose is to insure risks to member organizations or group members and their affiliates.
6. "Producer" means an insurance producer or any other person, firm, association or corporation when, for any compensation, commission or other thing of value, the person, firm, association or corporation acts or aids in any manner in soliciting, negotiating or procuring the making of an insurance contract on behalf of an insured other than the person, firm, association or corporation.