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. An order to rehabilitate a domestic insurer shall direct the receiver to take immediate possession of the property of the insurer, to conduct its business and to take such steps toward removal of the causes and conditions which have made rehabilitation necessary as the court may direct.
B. If at any time the receiver deems that further efforts to rehabilitate the insurer would be useless, he may apply to the court for an order of liquidation.
C. The receiver, or any interested person upon due notice to the receiver, at any time may apply to the court for an order terminating the rehabilitation proceedings and permitting the insurer to resume possession of its property and the conduct of its business, but no such order shall be granted except when, after a full hearing, the court has determined that the purposes of the proceeding have been fully accomplished.