Arizona § 20-723 Dividends to mutual policyholders

Arizona Statutes

§ 20-723 — Dividends to mutual policyholders

Arizona·Title 20 Arizona Revised Statutes·Ch. 4 PARTICULAR TYPES OF INSURERS·Art. 1 Domestic Stock and Mutual Insurers

A.The directors of a domestic mutual insurer may from time to time apportion and pay or credit to its members dividends only from that part of its surplus funds which represents net realized savings and net realized earnings from its business.

B.A dividend otherwise proper may be payable from such savings and earnings even though the insurer's total surplus is then less than the aggregate of its contributed surplus.

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A. The directors of a domestic mutual insurer may from time to time apportion and pay or credit to its members dividends only from that part of its surplus funds which represents net realized savings and net realized earnings from its business.

B. A dividend otherwise proper may be payable from such savings and earnings even though the insurer's total surplus is then less than the aggregate of its contributed surplus.

Arizona § 20-723 (Dividends to mutual policyholders) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.