Arizona Laws 20-233. Additional information required of insurer; disclosure to director; violation; classification
A. At the time of filing its annual statement as required by section 20-223, an insurer shall also disclose to the director, in the form or manner prescribed by the director, information similar to that required of other corporations transacting business in this state pursuant to sections 10-1622 and 10-1623 which is not already filed with or available to the director.
Attorney's Note
Under the Arizona Laws, punishments for crimes depend on the classification. In the case of this section:| Class | Prison | Fine |
|---|---|---|
| Class 6 felony | up to 1 1/2 years | up to $150,000 |
Terms Used In Arizona Laws 20-233
- Person: includes a corporation, company, partnership, firm, association or society, as well as a natural person. See Arizona Laws 1-215
B. The director may refuse to renew or may suspend or revoke the certificate of authority of any insurer failing to provide the disclosures provided by subsection A of this section. Any insurer failing to provide the information required by subsection A at the time of filing its annual statement shall be subject to payment of a late fee not to exceed twenty-five dollars for each day of delinquency.
C. A person executing or contributing information for such a disclosure who intentionally makes an untrue statement of a material fact or withholds any material fact with regard to the information required in subsection A of this section is guilty of a class 6 felony.