20-1570. Maintenance of the unearned premium reserve
110 words·~1 min read·
/az/title-20/20-1570A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
If by reason of any cause, other than depreciation in the market value of investments, the amount of the assets of a title insurer held as investments of its unearned premium reserve should on any date be less than the amount required to be maintained by law in such reserve, and the deficiency shall not be promptly cured, such title insurer shall forthwith give written notice thereof to the director and shall issue no further title insurance policies, whether of policy insurance, reinsurance or coinsurance, until the deficiency shall have been eliminated and until it shall have received written approval from the director authorizing it again to issue such policies.