Arizona § 20-727 - Management and exclusive agency contracts
Full text of Arizona Arizona Revised Statutes § 20-727 — Management and exclusive agency contracts, with citation guidance and answers to common questions.
§ 20-727. Management and exclusive agency contracts
A. A domestic stock or mutual insurer shall not make any contract whereby any person or persons are granted or are to enjoy in fact the management of the insurer to the substantial exclusion of its board of directors, or are to have the controlling or preemptive right to produce substantially all insurance business for the insurer, unless the contract is filed with the director of the department of insurance and financial institutions and is subject to the director's approval. The contract shall be deemed approved unless disapproved by the director within twenty days after date of filing, subject to such reasonable extension of time as the director may require by notice given within such twenty days. Any disapproval shall be delivered to the insurer in writing, stating the grounds for the disapproval.
B. The director shall disapprove any such contract if the director finds that it:
1. Subjects the insurer to excessive charges.
2. Is to extend for an unreasonable length of time.
3. Does not contain fair and adequate standards of performance.
4. Contains other inequitable provisions or provisions that impair the proper interests of stockholders or members of the insurer.
Source: official Arizona text · Last verified 2026-08-27
Frequently Asked Questions About Arizona § 20-727
What does Arizona Revised Statutes § 20-727 cover?
Section 20-727 ("Management and exclusive agency contracts") 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 § 20-727?
A common citation format is "Arizona Revised Statutes § 20-727" (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 § 20-727 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.