Arizona § 20-583 - Assets eligible for deposit
Full text of Arizona Arizona Revised Statutes § 20-583 — Assets eligible for deposit, with citation guidance and answers to common questions.
§ 20-583. Assets eligible for deposit
A. All deposits required for authority to transact insurance in this state shall consist of cash or any combination of the securities described in the following sections: section 20-537, section 20-538 and section 20-551, subsection A. The deposits by domestic stock life and disability insurers only or either of assets described in section 20-538 shall be limited to bonds and other evidences of indebtedness of this state or any of the counties or incorporated cities, towns or duly organized school districts within this state, and the deposits of assets described in section 20-551, subsection A shall be limited to banks or trust companies, credit unions and savings and loan associations which are domiciled in this state, but such limitations shall not apply to that part of those deposits which are in excess of the minimum amount necessary to transact insurance in this state.
B. All such deposits required pursuant to the laws of another state, province or country, or pursuant to the retaliatory provision set forth in section 20-230, shall consist of such assets as are required or permitted by such laws or as required pursuant to the retaliatory provision.
Frequently Asked Questions About Arizona § 20-583
What does Arizona Revised Statutes § 20-583 cover?
Section 20-583 ("Assets eligible for deposit") 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 § 20-583?
A common citation format is "Arizona Revised Statutes § 20-583" (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 § 20-583 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.