Arizona § 20-642 Levy of assessment

Arizona Statutes

§ 20-642 — Levy of assessment

Arizona § 20-642

Title 20Arizona Revised Statutes

Ch. 3FINANCIAL PROVISIONS AND PROCEDURES

Art. 4Rehabilitation and Liquidation

This text of Arizona § 20-642 (Levy of assessment) 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. § 20-642 (2026).

Text

A.Upon the basis of the report provided for in section 20-641, including any amendments thereof, the court, ex parte, may levy one or more assessments against all members of the insurer who, as shown by the records of the insurer, were members, if a mutual insurer, or subscribers, if a reciprocal insurer, at any time within one year prior to the date of issuance of the order to show cause under section 20-613.

B.The assessment or assessments shall cover the excess of the probable liabilities over the reasonable value of the assets, together with the estimated cost of collection and percentage of uncollectibility thereof. The total of all assessments against any member or subscriber with respect to any policy, whether levied pursuant to this article or pursuant to any other provision of

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A. Upon the basis of the report provided for in section 20-641, including any amendments thereof, the court, ex parte, may levy one or more assessments against all members of the insurer who, as shown by the records of the insurer, were members, if a mutual insurer, or subscribers, if a reciprocal insurer, at any time within one year prior to the date of issuance of the order to show cause under section 20-613.

B. The assessment or assessments shall cover the excess of the probable liabilities over the reasonable value of the assets, together with the estimated cost of collection and percentage of uncollectibility thereof. The total of all assessments against any member or subscriber with respect to any policy, whether levied pursuant to this article or pursuant to any other provision of this title, shall be for no greater amount than that specified in the policy or policies of the member or subscriber and as limited under this title, except that if the court finds that the policy was issued at a rate of premium below the minimum rate lawfully permitted for the risk insured, the court may determine the upper limit of the assessment upon the basis of the minimum rate.

C. No assessment shall be levied against any member or subscriber with respect to any nonassessable policy issued in accordance with this title.