Arizona § 20-491.07 Civil penalties

Arizona Statutes

§ 20-491.07 — Civil penalties

Arizona § 20-491.07

Title 20Arizona Revised Statutes

Ch. 2TRANSACTION OF INSURANCE BUSINESS

Art. 15Risk Management and Solvency Assessment

This text of Arizona § 20-491.07 (Civil penalties) 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. § 20-491.07 (2026).

Text

An insurer who fails to file without just cause the ORSA summary report required by this article after notice and a hearing shall pay a penalty of five hundred dollars for each day's delay in filing, not to exceed one hundred thousand dollars.  The director may reduce the penalty if the insurer demonstrates that the imposition of the penalty would constitute a financial hardship to the insurer.  The director shall deposit, pursuant to sections 35-146 and 35-147, the penalties collected in the state general fund.

Free access — add to your briefcase to read the full text and ask questions with AI

An insurer who fails to file without just cause the ORSA summary report required by this article after notice and a hearing shall pay a penalty of five hundred dollars for each day's delay in filing, not to exceed one hundred thousand dollars. The director may reduce the penalty if the insurer demonstrates that the imposition of the penalty would constitute a financial hardship to the insurer. The director shall deposit, pursuant to sections 35-146 and 35-147, the penalties collected in the state general fund.