Arizona § 20-713.01 Directors; terms; staggered terms

Arizona Statutes

§ 20-713.01 — Directors; terms; staggered terms

Arizona § 20-713.01

Title 20Arizona Revised Statutes

Ch. 4PARTICULAR TYPES OF INSURERS

Art. 1Domestic Stock and Mutual Insurers

This text of Arizona § 20-713.01 (Directors; terms; staggered terms) 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. § 20-713.01 (2026).

Text

The members of a domestic mutual insurer or mutual insurance holding company shall elect directors at the annual meeting of members. Directors may be elected for terms of not more than one year each and shall serve until their successors are elected and qualified unless, notwithstanding any law to the contrary, the insurer's articles of incorporation or bylaws provide for staggering the terms of directors by dividing the total number of directors into groups containing as equal a number of directors as is possible and providing an initial term of office for directors in each group that expires at succeeding annual meetings of members, with at least one director elected each year. Such staggered terms may not exceed five years each.

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The members of a domestic mutual insurer or mutual insurance holding company shall elect directors at the annual meeting of members. Directors may be elected for terms of not more than one year each and shall serve until their successors are elected and qualified unless, notwithstanding any law to the contrary, the insurer's articles of incorporation or bylaws provide for staggering the terms of directors by dividing the total number of directors into groups containing as equal a number of directors as is possible and providing an initial term of office for directors in each group that expires at succeeding annual meetings of members, with at least one director elected each year. Such staggered terms may not exceed five years each.