20-507. Unearned premium reserve for marine insurance
47 words·~1 min read·
/az/title-20/20-507A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
With reference to marine insurance, premiums on trip risks not terminated shall be deemed unearned, and the director may require the insurer to carry a reserve thereon equal to one hundred per cent on trip risks written during the month ended as of the date of statement.