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.
20-549 - Investments not otherwise authorized; limitations; appraisal; cost
20-549. Investments not otherwise authorized; limitations; appraisal; cost
A. An insurer may make loans or investments not otherwise qualifying or permitted under this article in an amount not exceeding in the aggregate ten per cent of the insurer's assets, and not exceeding two per cent of such assets as to any one such loan, investment or category of investment, except that such loan or investment shall not be represented by any item described in section 20-503.
B. The insurer shall fulfill the requirements of section 20-534 and shall maintain sufficient information so that the director can reasonably ascertain the market value of the loan or investment. The director may employ appraisers or other experts to assist in determining the value of the loans or investments. The insurer shall pay the cost incurred for any appraisal.