Arizona § 20-733 - Merger or consolidation of mutual insurers
Full text of Arizona Arizona Revised Statutes § 20-733 — Merger or consolidation of mutual insurers, with citation guidance and answers to common questions.
§ 20-733. Merger or consolidation of mutual insurers
A. A domestic mutual insurer shall not merge or consolidate with a stock insurer.
B. A domestic mutual insurer may merge or consolidate with another mutual insurer in accordance with procedures prescribed by general laws applying to corporations formed for profit, except as provided by this section.
C. The plan and agreement for merger or consolidation shall be submitted to and approved by at least two-thirds of the members of each mutual insurer involved voting thereon at meetings called for the purpose pursuant to such reasonable notice and procedure as has been approved by the director of the department of insurance and financial institutions. If a life insurer, the right to vote may be limited to members whose policies are in a face amount of not less than $1,000 and have been in force one year or more.
D. A merger or consolidation shall not be effectuated unless in advance thereof the plan and agreement therefor have been filed with and approved in writing by the director of the department of insurance and financial institutions. The director shall give approval within a reasonable time after filing unless the director finds the plan or agreement:
1. Inequitable to the policyholders of any domestic insurer involved.
2. Would substantially reduce the security of and service to be rendered to policyholders of the domestic insurer in this state or elsewhere.
E. If the director does not approve the plan or agreement the director shall so notify the insurer in writing specifying the reasons for the disapproval.
Source: official Arizona text · Last verified 2026-08-27
Frequently Asked Questions About Arizona § 20-733
What does Arizona Revised Statutes § 20-733 cover?
Section 20-733 ("Merger or consolidation of mutual insurers") 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 § 20-733?
A common citation format is "Arizona Revised Statutes § 20-733" (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 § 20-733 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.