Arizona § 20-1096.06 Filing of cash or alternatives to cash

Arizona Statutes

§ 20-1096.06 — Filing of cash or alternatives to cash

Arizona § 20-1096.06

Title 20Arizona Revised Statutes

Ch. 4PARTICULAR TYPES OF INSURERS

Art. 12Mechanical Reimbursement Reinsurers

This text of Arizona § 20-1096.06 (Filing of cash or alternatives to cash) is published on Counsel Stack Legal Research, covering Arizona primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ariz. Rev. Stat. Ann. § 20-1096.06 (2026).

Text

A.To assure faithful performance of its reinsurance obligations each mechanical reimbursement reinsurer shall, prior to the issuance of a certificate of authority, file with or for the benefit of the director cash or alternatives to cash which at all times have a value of at least one hundred thousand dollars.

B.The reinsurer may file alternatives to cash which shall be certificates of deposit purchased from a financial institution licensed to conduct business in this state or bonds of the United States government.

C.If alternatives to cash are made in the form of certificates of deposit or a bond, it shall be irrevocably pledged to the director. The reinsurer is entitled to any accrued interest earned from the alternatives to cash.

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A. To assure faithful performance of its reinsurance obligations each mechanical reimbursement reinsurer shall, prior to the issuance of a certificate of authority, file with or for the benefit of the director cash or alternatives to cash which at all times have a value of at least one hundred thousand dollars.

B. The reinsurer may file alternatives to cash which shall be certificates of deposit purchased from a financial institution licensed to conduct business in this state or bonds of the United States government.

C. If alternatives to cash are made in the form of certificates of deposit or a bond, it shall be irrevocably pledged to the director. The reinsurer is entitled to any accrued interest earned from the alternatives to cash.