Arizona § 20-779 - Financial condition; determination
Full text of Arizona Arizona Revised Statutes § 20-779 — Financial condition; determination, with citation guidance and answers to common questions.
§ 20-779. Financial condition; determination
In determining the financial condition of a reciprocal insurer the director shall apply the following rules:
1. He shall charge as liabilities the same reserves as are required of incorporated insurers issuing nonassessable policies on a reserve basis.
2. The surplus deposits of subscribers shall be allowed as assets, except that any premium deposit delinquent for ninety days shall first be charged against the surplus deposit.
3. The surplus deposits of subscribers shall not be charged as a liability.
4. All premium deposits delinquent less than ninety days shall be allowed as assets.
5. An assessment levied upon subscribers, and not collected, shall not be allowed as an asset.
6. The contingent liability of subscribers shall not be allowed as an asset.
7. The computation of reserves shall be based upon premium deposits other than membership fees and without any deduction for the compensation of the attorney.
Frequently Asked Questions About Arizona § 20-779
What does Arizona Revised Statutes § 20-779 cover?
Section 20-779 ("Financial condition; determination") 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 § 20-779?
A common citation format is "Arizona Revised Statutes § 20-779" (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 § 20-779 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.