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.
A. An insurer may make investments in securities of or in a foreign country possessing characteristics and of a quality similar to those required pursuant to this article for investments in the United States.
B. After giving effect to an investment in securities of or in a foreign country, the aggregate amount of such investments then held by an insurer under this section in a single foreign jurisdiction shall not exceed ten per cent of the insurer's admitted assets as to a foreign jurisdiction that has a sovereign debt rating of SVO 1 or three per cent of the insurer's admitted assets as to any other foreign jurisdiction. For the purposes of this subsection, "SVO" means the securities valuation office of the national association of insurance commissioners or any successor office established by the national association of insurance commissioners.
C. For the purposes of the quantitative limitations set forth in this article, investment in securities of or in a foreign country under this section shall not include a Canadian investment under section 20-552.01.