Arizona Laws 41-622.02. Consumer loss recovery fund
A. A consumer loss recovery fund is established in the department of administration consisting of monies transferred to the fund from the budget stabilization fund established by section 35-144. Monies in the fund shall pay for claims, adjusting costs, processing costs, legal defense costs and administrative costs as provided by law.
Terms Used In Arizona Laws 41-622.02
- Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
- Month: means a calendar month unless otherwise expressed. See Arizona Laws 1-215
B. The department of administration shall file a monthly report by the twenty-fifth day of the next month with the governor, the president of the senate and the speaker of the house of representatives. The monthly report shall include, at a minimum, the number of claims settled, the dollar costs associated with claims and the operating monies spent in support of the program.
C. All monies recovered by the state pursuant to litigation of false claims shall be deposited in the state general fund.
D. Monies in the consumer loss recovery fund are continuously appropriated and are exempt from the provisions of section 35-190 relating to lapsing of appropriations.