Arizona § 20-486.10 Penalties and liabilities

Arizona Statutes

§ 20-486.10 — Penalties and liabilities

Arizona § 20-486.10

Title 20Arizona Revised Statutes

Ch. 2TRANSACTION OF INSURANCE BUSINESS

Art. 10Reinsurance Intermediaries

This text of Arizona § 20-486.10 (Penalties and liabilities) 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. § 20-486.10 (2026).

Text

A.A reinsurance intermediary, insurer or reinsurer that after a hearing is found by the director to be in violation of this article:

1.For each separate violation, shall pay a penalty in an amount of not to exceed five thousand dollars.

2.Is subject to revocation or suspension of its license.

3.If a violation was committed by the reinsurance intermediary, the reinsurance intermediary shall make restitution to the insurer, reinsurer, rehabilitator or liquidator of the insurer or reinsurer for the net losses incurred by the insurer or reinsurer that are attributable to the violation.

B.This section does not affect the right of the director to impose any other penalty provided for by law.

C.This section does not limit or restrict the rights of policyholders, claimants, creditors or

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A. A reinsurance intermediary, insurer or reinsurer that after a hearing is found by the director to be in violation of this article:

1. For each separate violation, shall pay a penalty in an amount of not to exceed five thousand dollars.

2. Is subject to revocation or suspension of its license.

3. If a violation was committed by the reinsurance intermediary, the reinsurance intermediary shall make restitution to the insurer, reinsurer, rehabilitator or liquidator of the insurer or reinsurer for the net losses incurred by the insurer or reinsurer that are attributable to the violation.

B. This section does not affect the right of the director to impose any other penalty provided for by law.

C. This section does not limit or restrict the rights of policyholders, claimants, creditors or other third parties or confer any rights to these persons.

D. Except as provided in section 41-1092.08, subsection H, the final decision, determination or order of the director pursuant to subsection A of this section is subject to judicial review pursuant to title 12, chapter 7, article 6.