§ 20-1031 — Deposit required of Lloyd's association

The deposit requirements of section 20-213 and section 20-583 shall in all respects apply to any Lloyd's association, foreign or domestic, provided that the director shall not issue a certificate of authority to any Lloyd's association unless it has deposited in trust with the state treasurer of Arizona or in public custody in any other state or states cash or securities eligible for the investment of capital funds of domestic insurers in an amount not less than four hundred thousand dollars.