Arizona Laws 20-670. Meetings; information; subpoena power; confidentiality
A. Upon receipt of notification from the board that a member insurer may be unable to fulfill its contractual obligations, the director shall meet with the board.
Terms Used In Arizona Laws 20-670
- Board: means the guaranty fund board. See Arizona Laws 20-661
- including: means not limited to and is not a term of exclusion. See Arizona Laws 1-215
- Member insurer: means any person who writes any kind of insurance, unless such writing is restricted solely to life, title, surety, disability, credit, mortgage guaranty, ocean-marine or surplus lines insurance, including the exchange of reciprocal or inter-insurance contracts, and is licensed to transact insurance in this state. See Arizona Laws 20-661
- Subpoena: A command to a witness to appear and give testimony.
- Testimony: Evidence presented orally by witnesses during trials or before grand juries.
B. At such meeting, the director may divulge to the board any information in his possession and any records of his office, including examination reports or preliminary reports from examiners relating to such insurer.
C. The director may subpoena officers, directors and employees of an insolvent or impaired insurer or of an insurer the director considers to be in danger of insolvency or impairment, to appear before the board for a conference or for taking of testimony.
D. The board shall not reveal information received in such meetings to anyone unless authorized by the director or when required as a witness in court.