Arizona § 20-709 - Formation of mutual insurer; applications for insurance
Full text of Arizona Arizona Revised Statutes § 20-709 — Formation of mutual insurer; applications for insurance, with citation guidance and answers to common questions.
§ 20-709. Formation of mutual insurer; applications for insurance
A. Upon issuance of its certificate of incorporation by the corporation commission, the directors and officers of a domestic mutual corporation formed for the purpose of becoming a mutual insurer may open books for the registration of such requisite applications for insurance policies as they may accept, and may receive deposits of premiums thereon.
B. All such applications shall be in writing signed by the applicant, covering subjects of insurance resident, located or to be performed in this state.
C. All such applications shall provide that:
1. Issuance of the policy is contingent upon completion of organization of the insurer and issuance to it of a proper certificate of authority.
2. No insurance is provided until the certificate of authority has been so issued.
3. The prepaid premium or deposit, and membership or policy fee, if any, shall be refunded in full to the applicant if the organization is not completed and the certificate of authority issued before a specified reasonable date, which date shall be not later than one year following date of issuance of the certificate of incorporation.
D. All qualifying premiums collected shall be in cash.
E. Solicitation for qualifying applications for insurance shall be by licensed agents of the corporation, and the director shall upon application therefor issue temporary agent's licenses expiring on the date specified pursuant to paragraph 3 of subsection C of this section to individuals appointed by the corporation and qualified as for a resident agent's license except as to the taking of an examination. The director may suspend or revoke any such license for the same causes and pursuant to the same procedures applicable to suspension or revocation of licenses of agents in general under article 3 of chapter 2 of this title.
Source: official Arizona text · Last verified 2026-08-27
Frequently Asked Questions About Arizona § 20-709
What does Arizona Revised Statutes § 20-709 cover?
Section 20-709 ("Formation of mutual insurer; applications for insurance") 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 § 20-709?
A common citation format is "Arizona Revised Statutes § 20-709" (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 § 20-709 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.