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. All deposits required for authority to transact insurance in this state shall consist of cash or any combination of the securities described in the following sections: section 20-537, section 20-538 and section 20-551, subsection A. The deposits by domestic stock life and disability insurers only or either of assets described in section 20-538 shall be limited to bonds and other evidences of indebtedness of this state or any of the counties or incorporated cities, towns or duly organized school districts within this state, and the deposits of assets described in section 20-551, subsection A shall be limited to banks or trust companies, credit unions and savings and loan associations which are domiciled in this state, but such limitations shall not apply to that part of those deposits which are in excess of the minimum amount necessary to transact insurance in this state.
B. All such deposits required pursuant to the laws of another state, province or country, or pursuant to the retaliatory provision set forth in section 20-230, shall consist of such assets as are required or permitted by such laws or as required pursuant to the retaliatory provision.