Arizona § 20-1555 - Loss reserve
Full text of Arizona Arizona Revised Statutes § 20-1555 — Loss reserve, with citation guidance and answers to common questions.
§ 20-1555. Loss reserve
A mortgage guaranty insurance company shall compute and maintain adequate case basis and other loss reserves which accurately reflect loss frequency and loss severity and shall include components for claims reported and unpaid, and for claims incurred but not reported, including estimated losses on:
1. Insured loans which have resulted in the conveyance of property which remains unsold.
2. Insured loans in the process of foreclosure.
3. Insured loans in default for four months or for any lesser period which is defined as default for such purposes in the policy provisions.
4. Insured leases in default for four months or for any lesser period which is defined as default for such purposes in policy provisions.
Frequently Asked Questions About Arizona § 20-1555
What does Arizona Revised Statutes § 20-1555 cover?
Section 20-1555 ("Loss reserve") is part of the Arizona Revised Statutes, the codified statutory law of Arizona. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Arizona § 20-1555?
A common citation format is "Arizona Revised Statutes § 20-1555" (Arizona). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Arizona law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Arizona official source linked on this page or consult a licensed Arizona attorney.
How does Arizona § 20-1555 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Arizona can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Arizona.