Arizona § 20-650 - Recovery of shareholder liability
Full text of Arizona Arizona Revised Statutes § 20-650 — Recovery of shareholder liability, with citation guidance and answers to common questions.
§ 20-650. Recovery of shareholder liability
A. The receiver of an insurer may file a claim in the receivership proceeding to recover the liability of shareholders under article XIV, section 11, Constitution of Arizona.
B. Any amount recovered in an action under this section shall be distributed in the same manner provided by law for the distribution of general assets of the estate.
C. The receiver shall bring an action pursuant to subsection A of this section, within four years of the entry of an order of liquidation or other order fixing the rights and liabilities of shareholders under section 20-635.
D. In an action pursuant to this section:
1. The defendant is not entitled to offset obligations of the insurer to the defendant, except that a defendant may file a claim with the receiver for those obligations.
2. The receiver shall recover costs and reasonable attorney fees.
Source: official Arizona text · Last verified 2026-08-27
Frequently Asked Questions About Arizona § 20-650
What does Arizona Revised Statutes § 20-650 cover?
Section 20-650 ("Recovery of shareholder liability") 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 § 20-650?
A common citation format is "Arizona Revised Statutes § 20-650" (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 § 20-650 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.