Arizona § 20-650 Recovery of shareholder liability

Arizona Statutes

§ 20-650 — Recovery of shareholder liability

Arizona § 20-650

Title 20Arizona Revised Statutes

Ch. 3FINANCIAL PROVISIONS AND PROCEDURES

Art. 4Rehabilitation and Liquidation

This text of Arizona § 20-650 (Recovery of shareholder liability) 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. § 20-650 (2026).

Text

A.The receiver of an insurer may file a claim in the receivership proceeding to recover the liability of shareholders under article XIV, section 11, Constitution of Arizona.

B.Any amount recovered in an action under this section shall be distributed in the same manner provided by law for the distribution of general assets of the estate.

C.The receiver shall bring an action pursuant to subsection A of this section, within four years of the entry of an order of liquidation or other order fixing the rights and liabilities of shareholders under section 20-635.

D.In an action pursuant to this section:

1.The defendant is not entitled to offset obligations of the insurer to the defendant, except that a defendant may file a claim with the receiver for those obligations.

2.The receiver s

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A. The receiver of an insurer may file a claim in the receivership proceeding to recover the liability of shareholders under article XIV, section 11, Constitution of Arizona.

B. Any amount recovered in an action under this section shall be distributed in the same manner provided by law for the distribution of general assets of the estate.

C. The receiver shall bring an action pursuant to subsection A of this section, within four years of the entry of an order of liquidation or other order fixing the rights and liabilities of shareholders under section 20-635.

D. In an action pursuant to this section:

1. The defendant is not entitled to offset obligations of the insurer to the defendant, except that a defendant may file a claim with the receiver for those obligations.

2. The receiver shall recover costs and reasonable attorney fees.