On cancellation for any reason, the debtor is entitled to a refund of unearned premiums calculated on a daily pro rata basis, except that an insurer is not required to make any refund of less than five dollars.

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Terms Used In Arizona Laws 20-1621.07

  • Debtor: means the borrower of money or a purchaser or lessee of goods, services, property, rights or privileges for which payment is arranged through a credit transaction. See Arizona Laws 20-1621.01