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. The plan of operation prepared pursuant to section 20-2205 is subject to approval by the director after consultation with the members of the association and other affected individuals and organizations. If the director disapproves all or any part of the proposed plan of operation, the directors of the association, within fifteen days, shall submit for review an appropriate revised plan of operation or a part of a revised plan. If the directors of the association fail to act, the director shall promulgate a plan of operation or a part of a plan, whichever is appropriate. The plan of operation approved or promulgated by the director becomes effective and operational on order of the director.
B. A plan of operation shall require the association to issue a claims-made policy. Pending the approval of the plan of operation, the association shall designate a service company or service companies to bind the association for the coverage. The policies shall make provision for payment of dividends.