20-1558. Miscellaneous reserves
126 words·~1 min read·
/az/title-20/20-1558A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
A. If the laws of any other jurisdiction in which a mortgage guaranty insurance company, subject to the requirement of this article is also licensed to transact mortgage guaranty insurance, require a larger unearned premium reserve or contingency reserve in the aggregate than that set forth in this article, the establishment of such larger unearned premium reserve or contingency reserve in the aggregate shall be deemed to be in compliance with this article.
B. Unearned premium reserves and contingency reserves shall be computed and maintained on risks insured after the effective date of this article as required by sections 20-1554 and 20-1556. Unearned premium reserves and contingency reserves on risks insured before the effective date of this article may be computed and maintained as required previously.