Notwithstanding any other statute, no authorized insurer or surplus line insurer is required to file with the corporation commission the annual report required of corporations by section 10-1622 or the certificate of disclosure required of corporations which are exempt from filing an annual report by section 10-1622 or the statement of bankruptcy required by section 10-1623 from corporations filing for bankruptcy. Such an insurer is exempt from filing the annual report, from filing the certificate of disclosure and from payment of the annual registration fee required by section 10-1622 and from the annual report fee required by section 10-122.

Terms Used In Arizona Laws 20-228

  • Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
  • 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.
  • Statute: A law passed by a legislature.
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