20-1083. Law applicable to domestic life and disability reinsurers

262 words·~1 min read·/az/title-20/20-1083

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

A. All other provisions of this title that are not inconsistent with the provisions of this article apply to domestic life and disability reinsurers.

B. Notwithstanding section 20-223, an unaffiliated credit life and disability reinsurer shall submit an annual statement in a form acceptable to the director and the annual statement of the reinsurer is due August 1 if the reinsurer's fiscal year ends on the preceding December 31 or November 1 if the reinsurer's fiscal year ends on a preceding date other than the preceding December 31.

C. Notwithstanding section 20-223, subsection A, an unaffiliated credit life and disability reinsurer is exempt from the management discussion and analysis requirements prescribed in the accounting practices and procedures manual adopted by the national association of insurance commissioners.

D. Notwithstanding section 20-731 and any rule that requires a hearing on the withdrawal of an insurer from this state, a hearing on a merger with or on withdrawal from this state by an unaffiliated credit life and disability reinsurer is not required, unless the requirement of a hearing applies to another party to the transaction.

E. The following do not apply to unaffiliated credit life and disability reinsurers:

1. The requirement of an examination at least once every five years pursuant to section 20-156, subsection A.

2. Any rule adopted pursuant to section 20-223, subsection A relating to audited financial statements.

3. Chapter 2, article 12 of this title.

4. The quantitative restrictions or limitations imposed on the investments of insurers by this title.

5. Chapter 3, article 8 of this title.

6. Section 20-722.