Arizona § 20-587 Excess deposits

Arizona Statutes

§ 20-587 — Excess deposits

Arizona § 20-587

Title 20Arizona Revised Statutes

Ch. 3FINANCIAL PROVISIONS AND PROCEDURES

Art. 3Administration of Deposits

This text of Arizona § 20-587 (Excess deposits) 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. § 20-587 (2026).

Text

An insurer may so deposit cash or eligible securities in an amount exceeding its deposit required or otherwise permitted under this title by not more than one hundred thousand dollars, for the purpose of absorbing fluctuations in the value of securities held in its deposit, and to facilitate the exchange and substitution of securities deposited. During the solvency of the insurer any such excess deposit or part thereof shall be released to the insurer upon its request. During the insolvency of the insurer the excess deposit shall be released only as provided in section 20-588.

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

An insurer may so deposit cash or eligible securities in an amount exceeding its deposit required or otherwise permitted under this title by not more than one hundred thousand dollars, for the purpose of absorbing fluctuations in the value of securities held in its deposit, and to facilitate the exchange and substitution of securities deposited. During the solvency of the insurer any such excess deposit or part thereof shall be released to the insurer upon its request. During the insolvency of the insurer the excess deposit shall be released only as provided in section 20-588.