20-2661. Scope of article; definitions
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/az/title-20/20-2661A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
A. This article applies to all agents as defined in section 20-2601 seeking qualification to sell or offer for sale variable contracts or variable group contracts in this state.
B. In this article, unless the context otherwise requires:
1. "Variable contracts" means a variable life insurance policy or a variable annuity as defined in sections 20-2601 and 20-2631, respectively.
2. "Variable group annuity" means a group policy or contract of two or more individuals that provides for annuity benefits that vary according to the investment experience of a separate account or accounts that the insurer maintains pursuant to section 20-651 or the corresponding insurance laws of a foreign insurer's domiciliary state.
3. "Variable group contracts" means a variable group annuity or a variable group life insurance policy.