Arizona Laws 20-1096.04. Qualifications
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The director shall not issue a certificate of authority to a mechanical reimbursement reinsurer unless all of the following conditions are met:
Terms Used In Arizona Laws 20-1096.04
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- reinsurer: means a domestic reinsurer reinsuring mechanical reimbursement insurance. See Arizona Laws 20-1096
1. The applicant is a corporation incorporated under the laws of this state.
2. The applicant furnishes such proof as necessary to the director that the directors and management of the reinsurer are competent and are capable of successfully managing its affairs in compliance with law.
3. The applicant makes the deposit as required by Section 20-1096.06.
4. The applicant is in compliance and continues to be in compliance with all applicable laws.
5. The applicant pays the initial fee prescribed in section 20-167.