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.
20-619 - Grounds for ancillary liquidation of foreign insurers
20-619. Grounds for ancillary liquidation of foreign insurers
The director may apply to the court for an order appointing the director as ancillary receiver of and directing the director to liquidate the business of a foreign insurer having assets, business or claims in this state upon the occurrence of either:
1. The appointment in the domiciliary state of the insurer of any receiver, liquidator, conservator, rehabilitator or other officer by whatever name called for the purpose of liquidating the business of the insurer.
2. A mandatory control level event as prescribed by chapter 2, article 12 of this title, if any receiver, liquidator, conservator, rehabilitator or other officer by whatever name called is not appointed in the insurer's domiciliary state.