§ 20-645 – Judgment upon assessment
20-645. Judgment upon assessment A. Upon the return day of the order to show cause provided for in section 20-643, if the member or subscriber does not appear and serve duly verified objections upon the receiver, the court shall make an order adjudging that the member or subscriber is liable for the amount of the […]
§ 20-646 – Cooperation with Arizona property and casualty insurance guaranty fund and life and disability insurance guaranty fund
20-646. Cooperation with Arizona property and casualty insurance guaranty fund and life and disability insurance guaranty fund The provisions of this article shall be construed to permit the orderly and effective payment of claims by the Arizona property and casualty insurance guaranty fund established pursuant to article 6 of this chapter and the life and […]
§ 20-647 – Giving guaranty fund or association immediate access to assets
20-647. Giving guaranty fund or association immediate access to assets A. As soon as practicable after a final determination of insolvency of an insurer by a court of competent jurisdiction of this state, the receiver may make application to the court for approval of a proposal to distribute assets out of such company’s marshaled assets, […]
§ 20-648 – Receivership liquidation fund; purpose; deposit; expenses of receivership; deputy receiver; powers and duties
20-648. Receivership liquidation fund; purpose; deposit; expenses of receivership; deputy receiver; powers and duties A. The director shall appoint a deputy receiver to administer the conservation, rehabilitation or liquidation of an insurer pursuant to this article. B. A receivership liquidation fund is established. The deputy receiver shall file a petition with the court authorizing the […]
§ 20-649 – Extension of time
20-649. Extension of time A. Except as provided in subsection D, if any law, rule, order or agreement fixes a period of time within which the insurer subject to a delinquency proceeding or the receiver may commence an action, and that period is enforceable and has not expired before the date of the commencement of […]
§ 20-650 – Recovery of shareholder liability
20-650. Recovery of shareholder liability A. The receiver of an insurer may file a claim in the receivership proceeding to recover the liability of shareholders under article XIV, section 11, Constitution of Arizona. B. Any amount recovered in an action under this section shall be distributed in the same manner provided by law for the […]
§ 20-626 – Claims of nonresidents against domestic insurers
20-626. Claims of nonresidents against domestic insurers A. In a delinquency proceeding begun in this state against a domestic insurer, claimants residing in reciprocal states may file claims either with the ancillary receivers, if any, in their respective states, or with the domiciliary receiver. All such claims shall be filed on or before the last […]
§ 20-643 – Order to pay assessment
20-643. Order to pay assessment After levy of an assessment as provided in section 20-642, upon the filing of a further detailed report by the receiver the court shall issue an order directing each member, if a mutual insurer, or each subscriber, if a reciprocal insurer, if the member or subscriber has not paid the […]
§ 20-627 – Claims against foreign insurers
20-627. Claims against foreign insurers A. In a delinquency proceeding in a reciprocal state against an insurer domiciled in that state, claimants against the insurer who reside within this state may file claims either with the ancillary receiver, if any, appointed in this state, or with the domiciliary receiver. All such claims shall be filed […]
§ 20-644 – Publication and service of assessment order
20-644. Publication and service of assessment order The receiver shall cause a notice of the assessment order, setting forth a brief summary of the contents of the order, to be published in such manner as shall be directed by the court, and enclosed in a sealed envelope, addressed and mailed postage prepaid, to each member […]