20-391. Joint underwriting and joint reinsurance organizations; filing with director
147 words·~1 min read·
/az/title-20/20-391A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
A. Every group, association or other organization of insurers which engages in joint underwriting or joint reinsurance through such group, association or organization or by standing agreement among the members shall file with the director:
1. A copy of its constitution, articles of association and bylaws.
2. A list of its members.
3. The name and address of a resident of this state upon whom notices or orders of the director or process may be served.
B. Every such group, association or other organization shall notify the director promptly of any change in the documents required to be filed with the director.
C. If after a hearing the director finds that any activity or practice of any such group, association or other organization is inconsistent with this article, the director may issue a written order specifying the inconsistencies and requiring the discontinuance of such activity or practice.