12-588. Form of funding
129 words·~1 min read·
/az/title-12/12-588A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
A. Funding authorized or required for payment of a judgment for periodic installments shall be approved by the court as sufficient to guarantee financial solvency and be in one or more of the following forms:
1. An annuity contract issued by one or more qualified insurers.
2. An agreement by one or more qualified insurers to fund the judgment.
3. Any other form of funding which the court approves and to which the claimant consents.
B. Funding under this section qualifies as a required supersedeas bond.
C. In the event of a qualified assignment under section 130 of the internal revenue code of 1986, as amended, the qualified assignee and any qualified insurer shall be jointly and severally liable but the qualified insurer's obligation shall be the primary obligation.