Arizona § 20-1307 Dividends

Arizona Statutes

§ 20-1307 — Dividends

Arizona·Title 20 Arizona Revised Statutes·Ch. 6 PARTICULAR TYPES OF INSURANCE·Art. 3 Industrial Life Insurance

If a participating policy, there shall be a provision that the insurer shall annually ascertain and apportion any divisible surplus accruing on the policy, except that at the option of the insurer such participation may be deferred to the end of the fifth policy year. This provision shall not prohibit the payment of additional dividends on default of payment of premiums or termination of the policy.

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If a participating policy, there shall be a provision that the insurer shall annually ascertain and apportion any divisible surplus accruing on the policy, except that at the option of the insurer such participation may be deferred to the end of the fifth policy year. This provision shall not prohibit the payment of additional dividends on default of payment of premiums or termination of the policy.

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