Arizona § 20-2404 - Compulsory associations
Full text of Arizona Arizona Revised Statutes § 20-2404 — Compulsory associations, with citation guidance and answers to common questions.
§ 20-2404. Compulsory associations
A. No risk retention group is required or permitted to join or contribute financially to any insurance insolvency guaranty fund, or similar mechanism, in this state, and no risk retention group, or its insureds or claimants against its insureds, may receive any benefit from any fund for claims arising under the insurance policies issued by the risk retention group.
B. If a purchasing group obtains insurance covering its members' risks from an insurer that is not authorized in this state or a risk retention group, no risks wherever resident or located may be covered by any insurance guaranty fund or similar mechanism in this state.
C. If a purchasing group obtains insurance covering its members' risks from an authorized insurer, only risks resident or located in this state may be covered by the state guaranty fund.
D. A risk retention group shall participate in this state's joint underwriting associations and mandatory liability pools as provided by this title.
Frequently Asked Questions About Arizona § 20-2404
What does Arizona Revised Statutes § 20-2404 cover?
Section 20-2404 ("Compulsory associations") 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 § 20-2404?
A common citation format is "Arizona Revised Statutes § 20-2404" (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 § 20-2404 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.