The Arizona Revised Statutes have been updated to include the revised sections from the 55th Legislature, 2nd Regular Session. Please note that the next update of this compilation will not take place until after the conclusion of the 56th Legislature, 1st Regular Session, which convenes in January 2023.
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.
20-683 - Life and disability insurance guaranty fund
<!Creation Date: 09/16/22>
<!Author: Arizona Legislative Council>
20-683. Life and disability insurance guaranty fund
A. The life and disability insurance guaranty fund is established in the department. The fund shall be deposited in a depository designated by the director. All member insurers shall be members of the fund as a condition of their authority to transact insurance or a health care services organization business in this state. For the purposes of administration and assessment, the fund shall maintain three accounts:
1. The disability account.
2. The life insurance account.
3. The annuity account.
B. The fund is under the immediate supervision of the director and is subject to the applicable provisions of the insurance laws of this state.
C. All costs, expenses and liabilities of the fund shall be paid by the fund and shall not be a general obligation of the state.
D. All monies placed in the accounts of the fund may be expended for the purposes of this article.