Arizona § 6-571 Insurance for members

Arizona Statutes

§ 6-571 — Insurance for members

Arizona § 6-571

Title 6Arizona Revised Statutes

Ch. 4CREDIT UNIONS

Art. 8Other Member Services

This text of Arizona § 6-571 (Insurance for members) 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. § 6-571 (2026).

Text

A credit union may purchase or provide insurance on the lives or credit disability of its members in an amount equal to their respective share and loan balances or either or both of them and purchase or provide vendor's single interest property insurance coverages on property which is pledged as security if the borrower fails to provide evidence of adequate coverages placed with an insurance carrier selected by the borrower. Nothing in this section shall prohibit the lender from specifying reasonable requirements for coverages and the financial condition of the insurance carrier.

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A credit union may purchase or provide insurance on the lives or credit disability of its members in an amount equal to their respective share and loan balances or either or both of them and purchase or provide vendor's single interest property insurance coverages on property which is pledged as security if the borrower fails to provide evidence of adequate coverages placed with an insurance carrier selected by the borrower. Nothing in this section shall prohibit the lender from specifying reasonable requirements for coverages and the financial condition of the insurance carrier.