Arizona § 20-474 Service charges in connection with insurance on collateral security prohibited when mortgagee procures insurance

Arizona Statutes

§ 20-474 — Service charges in connection with insurance on collateral security prohibited when mortgagee procures insurance

Arizona § 20-474

Title 20Arizona Revised Statutes

Ch. 2TRANSACTION OF INSURANCE BUSINESS

Art. 7Insurance on Collateral Security

This text of Arizona § 20-474 (Service charges in connection with insurance on collateral security prohibited when mortgagee procures insurance) 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. § 20-474 (2026).

Text

When a mortgagee or his agent at the inception of the mortgage procures the issuance of insurance for the mortgagor then the mortgagor may substitute a replacement policy within one year after the inception of the original policy procured by the mortgagee and it shall be unlawful for the mortgagee to charge an insurance service charge for services performed in changing the mortgagee's records and accounts.

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When a mortgagee or his agent at the inception of the mortgage procures the issuance of insurance for the mortgagor then the mortgagor may substitute a replacement policy within one year after the inception of the original policy procured by the mortgagee and it shall be unlawful for the mortgagee to charge an insurance service charge for services performed in changing the mortgagee's records and accounts.