Arizona § 20-720 - Revocation of authority to issue nonassessable policies
Full text of Arizona Arizona Revised Statutes § 20-720 — Revocation of authority to issue nonassessable policies, with citation guidance and answers to common questions.
§ 20-720. Revocation of authority to issue nonassessable policies
A. The director shall revoke the authority of a domestic mutual insurer to issue policies without contingent liability if at any time the insurer's assets are less than the sum of its liabilities and the surplus required for such authority, or if the insurer, by resolution of its board of directors approved by a majority of its members, requests that the authority be revoked.
B. Upon revocation of such authority for any cause the insurer shall not thereafter issue new policies without contingent liability, nor renew or accept further premiums on old policies without endorsing them to provide for such liability.
Source: official Arizona text · Last verified 2026-08-27
Frequently Asked Questions About Arizona § 20-720
What does Arizona Revised Statutes § 20-720 cover?
Section 20-720 ("Revocation of authority to issue nonassessable policies") 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 § 20-720?
A common citation format is "Arizona Revised Statutes § 20-720" (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 § 20-720 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.