§ 20-411.02 – Nonresident surplus lines broker; remittance of tax on insurance procured out of state
20-411.02. Nonresident surplus lines broker; remittance of tax on insurance procured out of state A. The director shall license a nonresident person as a surplus lines broker in accordance with section 20-287. B. Except as otherwise provided, a nonresident surplus lines broker is subject to this title as if the broker were licensed as a […]
§ 20-401.05 – Certificate of exemption; definitions
20-401.05. Certificate of exemption; definitions A. On July 1 of each year, the director shall grant a certificate of exemption to any insurer, employee benefit trust or voluntary employees’ beneficiary association transacting life insurance, disability insurance or annuity business, or providing other health or welfare benefits, under the laws of its domicile that: 1. Is […]
§ 20-412 – Acceptance of surplus lines business by broker
20-412. Acceptance of surplus lines business by broker A licensed surplus lines broker may accept or place surplus lines business from any insurance producer licensed in this state for the kind of insurance involved and may compensate the insurance producer therefor. The broker shall have the right to receive from the insurer the customary commission.
§ 20-401.06 – Unauthorized transactions; classification
20-401.06. Unauthorized transactions; classification Any unauthorized insurer who knowingly transacts any unauthorized act of an insurance business is guilty of a class 5 felony.
§ 20-413 – Placing of surplus lines coverage; endorsement by broker; list of unauthorized insurers; removal from list; definition
20-413. Placing of surplus lines coverage; endorsement by broker; list of unauthorized insurers; removal from list; definition A. A surplus lines broker shall not knowingly place any surplus lines coverage on behalf of an insured whose home state is Arizona with an unauthorized insurer, Lloyd’s association, insurance exchange or syndicate of an insurance exchange that […]
§ 20-401.07 – Premium receipts tax on industrial insureds contracting with unauthorized insurer; definitions
20-401.07. Premium receipts tax on industrial insureds contracting with unauthorized insurer; definitions A. Every industrial insured under a contract procured from an unauthorized insurer shall pay to the director for coverage on Arizona single-state risks or to the clearinghouse for coverage on multistate risks on or before the dates prescribed by in section 20-415 a […]
§ 20-414 – Records of surplus lines brokers
20-414. Records of surplus lines brokers Each surplus lines broker shall keep in the broker’s principal place of business a full and true record of each surplus lines contract procured by the broker under the license issued pursuant to this article. The director may examine the record at any time within three years after the […]
§ 20-402 – Validity of contracts
20-402. Validity of contracts A. The transaction of business in violation of section 20-401.01 by an insurer does not impair the validity of any act or contract of the insurer and does not prevent the insurer from defending any action at law or suit in equity in any court of this state, except that no […]
§ 20-415 – Statement of surplus lines insurance business transacted by broker; reporting periods; exception
20-415. Statement of surplus lines insurance business transacted by broker; reporting periods; exception A. Each surplus lines broker shall file with the director a statement of all surplus lines insurance business covering Arizona risks transacted by the broker during the period for which the statement is being filed. The statement shall be on a form […]
§ 20-403 – Service of process in an action by someone other than the director
20-403. Service of process in an action by someone other than the director A. The transaction of an insurance business in this state, as provided in section 20-106, by, or on behalf of, an unauthorized nonresident insurer shall be deemed to constitute an appointment by the insurer of the director and the director’s successors in […]