Arizona § 20-634 Borrowing on pledge of assets

Arizona Statutes

§ 20-634 — Borrowing on pledge of assets

Arizona § 20-634

Title 20Arizona Revised Statutes

Ch. 3FINANCIAL PROVISIONS AND PROCEDURES

Art. 4Rehabilitation and Liquidation

This text of Arizona § 20-634 (Borrowing on pledge of assets) 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. § 20-634 (2026).

Text

For the purpose of facilitating the rehabilitation, liquidation, conservation or dissolution of an insurer pursuant to this article, the receiver may, subject to the approval of the court, borrow money and execute, acknowledge and deliver notes or other evidences of indebtedness therefor and secure its repayment by the mortgage, pledge, assignment, transfer in trust or hypothecation of any or all of the property, whether real, personal or mixed, of the insurer, and the receiver, subject to the approval of the court, may take any and all other action necessary and proper to consummate the loan and to provide for the repayment thereof. The receiver is under no obligation personally or in the receiver's official capacity to repay any loan made pursuant to this section.

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For the purpose of facilitating the rehabilitation, liquidation, conservation or dissolution of an insurer pursuant to this article, the receiver may, subject to the approval of the court, borrow money and execute, acknowledge and deliver notes or other evidences of indebtedness therefor and secure its repayment by the mortgage, pledge, assignment, transfer in trust or hypothecation of any or all of the property, whether real, personal or mixed, of the insurer, and the receiver, subject to the approval of the court, may take any and all other action necessary and proper to consummate the loan and to provide for the repayment thereof. The receiver is under no obligation personally or in the receiver's official capacity to repay any loan made pursuant to this section.