Arizona Laws 20-2406. Purchasing groups; exemption from certain laws relating to the group purchase of insurance
Current as of: 2024 | Check for updates
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A. A purchasing group which meets the criteria established under the federal liability risk retention act of 1986 is exempt from any law of this state relating to the creation of groups for the purchase of insurance, prohibition of group purchasing or any law that would discriminate against a purchasing group or its members.
Terms Used In Arizona Laws 20-2406
- Insurance: means primary insurance, excess insurance, reinsurance, surplus lines insurance and any other arrangement for shifting and distributing risk which is determined to be insurance under the laws of this state. See Arizona Laws 20-2401
- Public law: A public bill or joint resolution that has passed both chambers and been enacted into law. Public laws have general applicability nationwide.
- Purchasing group: means a group which meets all of the following criteria:
(a) Has as one of its purposes the purchase of liability insurance on a group basis. See Arizona Laws 20-2401
- State: means any state of the United States or the District of Columbia. See Arizona Laws 20-2401
B. This state shall not enact any law or the director shall not adopt a rule which imposes prohibitions or requirements on purchasing groups in violation of section 3(a) of the liability risk retention act of 1986, Public Law 99-563. A purchasing group is subject to all applicable laws of this state.