Arizona § 20-874 - Conversion of fraternal benefit society to mutual life insurance company
Full text of Arizona Arizona Revised Statutes § 20-874 — Conversion of fraternal benefit society to mutual life insurance company, with citation guidance and answers to common questions.
§ 20-874. Conversion of fraternal benefit society to mutual life insurance company
A domestic fraternal benefit society may convert to and be licensed as a mutual life insurance company by complying with the requirements of this title relating to mutual insurers. The board of directors shall prepare a plan of conversion in writing. The plan of conversion shall prescribe the terms and conditions of conversion. The affirmative vote of two-thirds of the members of the supreme governing body at a regular or special meeting is required for approval of the plan. A plan of conversion is not effective unless it is approved by the director. The director may approve the plan of conversion if the director finds that the proposed change conforms to the law and is not prejudicial to the certificate holders of the society.
Source: official Arizona text · Last verified 2026-08-27
Frequently Asked Questions About Arizona § 20-874
What does Arizona Revised Statutes § 20-874 cover?
Section 20-874 ("Conversion of fraternal benefit society to mutual life insurance company") 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 § 20-874?
A common citation format is "Arizona Revised Statutes § 20-874" (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 § 20-874 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.