Arizona § 20-623 Order of conservation or ancillary liquidation of foreign or alien insurers

Arizona Statutes

§ 20-623 — Order of conservation or ancillary liquidation of foreign or alien insurers

Arizona § 20-623

Title 20Arizona Revised Statutes

Ch. 3FINANCIAL PROVISIONS AND PROCEDURES

Art. 4Rehabilitation and Liquidation

This text of Arizona § 20-623 (Order of conservation or ancillary liquidation of foreign or alien insurers) 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. § 20-623 (2026).

Text

A.An order to conserve the assets of a foreign or alien insurer shall require the director as ancillary receiver to take immediate possession of the property of the insurer within this state and to conserve it, subject to the further direction of the court.

B.An order to liquidate the assets in this state of a foreign insurer shall require the director as ancillary receiver to take immediate possession of the property of the insurer within this state and to liquidate it subject to the orders of the court and with due regard to the rights and powers of the domiciliary receiver, as provided in this article.

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A. An order to conserve the assets of a foreign or alien insurer shall require the director as ancillary receiver to take immediate possession of the property of the insurer within this state and to conserve it, subject to the further direction of the court.

B. An order to liquidate the assets in this state of a foreign insurer shall require the director as ancillary receiver to take immediate possession of the property of the insurer within this state and to liquidate it subject to the orders of the court and with due regard to the rights and powers of the domiciliary receiver, as provided in this article.