Arizona Laws 20-1097. Definitions
In this article, unless the context otherwise requires:
Terms Used In Arizona Laws 20-1097
- Administrative fee: means a fixed amount paid by a corporation on a periodic basis to a contracted attorney for the contracted attorney's overhead and administrative costs. See Arizona Laws 20-1097
- 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.
- corporation: means any corporation organized for the purpose of selling prepaid legal insurance contracts in this state or any insurer licensed pursuant to this title. See Arizona Laws 20-1097
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
1. "Administrative fee" means a fixed amount paid by a corporation on a periodic basis to a contracted attorney for the contracted attorney’s overhead and administrative costs.
2. Pay or reimburse for specific legal services does not include payment of an administrative fee only.
3. "Prepaid legal insurance contract" means a contractual obligation to pay or reimburse for specific legal services rendered in the normal and ordinary course of business by an active member of the state bar of Arizona.
4. "Prepaid legal insurance corporation" or "corporation" means any corporation organized for the purpose of selling prepaid legal insurance contracts in this state or any insurer licensed pursuant to this title.