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.
A. An insurer that meets the standards prescribed in subsection B may invest in a partnership or limited liability company interest if the investments held by the partnership or limited liability company, if added to the assets of the insurer in the same proportion as the interests in the partnership or limited liability company held by all other partners or members, would not cause the insurer to exceed the limitations prescribed in this article.
B. To be eligible to make any investment provided in this section, an insurer shall possess surplus as regards policyholders of at least:
1. Seven million dollars if the surplus is at least seven per cent of the insurer's admitted assets.
2. One hundred million dollars if the surplus is at least six per cent of the insurer's admitted assets.
3. Two hundred fifty million dollars if the surplus is at least five per cent of the insurer's admitted assets.
C. Except with the director's consent, the eligible insurer investments pursuant to this section are subject to the following limitations:
1. An insurer's investment in a partnership or limited liability company shall not exceed two per cent of the insurer's admitted assets.
2. An insurer's total investments in partnerships and limited liability companies shall not exceed ten per cent of the insurer's admitted assets.