Arizona Laws 20-481.18. Disclaimer of affiliation or control; contents; effect on duty to register
A. Any person may file with the director a disclaimer of affiliation or control with any authorized insurer or such a disclaimer may be filed by such insurer or any member of an insurance holding company system.
Terms Used In Arizona Laws 20-481.18
- Insurance holding company system: means two or more affiliated persons, one or more of whom is an insurer. See Arizona Laws 20-481
- Insurer: means every person engaged in the business of making contracts of insurance except:
(a) Agencies, authorities or instrumentalities of the United States, its possessions and territories, the Commonwealth of Puerto Rico, the District of Columbia or a state or political subdivision of a state. See Arizona Laws 20-481
- Person: means an individual, a corporation, a partnership, an association, a joint stock company, a trust, an unincorporated organization and any similar entity or any combination of the foregoing acting in concert but does not include any joint venture partnership exclusively engaged in owning, managing, leasing or developing real or tangible personal property. See Arizona Laws 20-481
B. The disclaimer shall fully disclose all material relationships and bases for affiliation or control between such person and such insurer as well as the basis for disclaiming such affiliation or control.
C. A disclaimer of affiliation shall be deemed to have been approved unless the director within thirty days following receipt of a complete disclaimer notifies the filing party that the disclaimer is disallowed. If the director disallows the disclaimer, the disclaiming party may request an administrative hearing, which shall be granted. The disclaiming party is not required to register under this section if the director approves the disclaimer or if the disclaimer is deemed to have been approved.