A. The assets of a prepaid legal insurance corporation shall be reported at values determined pursuant to sections 20-511 through 20-515. If the director deems it necessary to value any real estate, he may employ one or more appraisers for that purpose, and the reasonable expense thereof and shall be borne by the corporation.

Terms Used In Arizona Laws 20-1097.11

  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • 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

B. The corporation shall include the information required by subsection A in its annual statement filed with the director pursuant to Section 20-1097.12.

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