Terms Used In Arizona Laws > Title 6 > Chapter 11 > Article 1 - General Provisions

• Acquisition of control: means a transaction by which a person obtains, directly or indirectly, control of a financial institution. See Arizona Laws 6-1101
• Action: includes any matter or proceeding in a court, civil or criminal. See Arizona Laws 1-215
• Adjudicate: means an insurer's decision to deny or pay a claim, in whole or in part, including the decision as to how much to pay. See Arizona Laws 20-3101
• Adult: means a person who has attained eighteen years of age. See Arizona Laws 1-215
• Adverse decision: means a utilization review determination by the utilization review agent that a requested service or claim for service is not a covered service or is not medically necessary under the plan if that determination results in a documented denial or nonpayment of the service or claim. See Arizona Laws 20-2501
• Advertising: means any written, electronic or printed communication or any communication by means of recorded telephone messages or transmitted by radio, television, the internet or similar communications media, including film strips, motion pictures and videos, that is published, disseminated, circulated or placed directly before an owner in this state for the purpose of creating an interest in or inducing an owner to purchase or sell, assign, devise, bequest or transfer the death benefit or ownership of a life insurance policy or an interest in a life insurance policy pursuant to a life settlement contract. See Arizona Laws 20-3201
• Allegation: something that someone says happened.
• Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
• Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
• Appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant.
• Applicant: means a provider organization that submits an application to the contractor to provide continuing education courses. See Arizona Laws 20-2901
• Application: means an application which is made pursuant to this article for approval of the deputy director to become a financial institution holding company. See Arizona Laws 6-1101
• Approved continuing education course: means any course that has been approved by at least five other states or that is approved by a contractor or automatically approved pursuant to section 20-2904. See Arizona Laws 20-2901
• Approved provider: means an organization or individual that offers an approved continuing education course and that is authorized by the contractor to offer the course to a licensee for credit toward the licensee's continuing education requirements. See Arizona Laws 20-2901
• Arbitration: means a dispute resolution process in which an impartial arbitrator determines the dollar amount a health care provider is entitled to receive for payment of a surprise out-of-network bill. See Arizona Laws 20-3111
• Arbitrator: means an impartial person who is appointed to conduct an arbitration. See Arizona Laws 20-3111
• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Assumed investment rate: means the rate of investment return that is required to be credited to a variable life insurance policy, after the deduction of charges for taxes, investment expenses and mortality and expense guarantees, to maintain the variable death benefit in an amount that is equal at all times to the amount of the death benefit, other than incidental insurance benefits, that would be payable under the plan of insurance if the death benefit did not vary according to the investment experience of the separate account. See Arizona Laws 20-2601
• Bank: means a corporation that holds a banking permit issued pursuant to chapter 2 of this title. See Arizona Laws 6-101
• Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. ^{Source: OCC}
• Benefit base: means the amount to which the net investment return is applied. See Arizona Laws 20-2601
• Benefits based on the health status of the insured: means a contract of insurance to pay a fixed benefit amount, without regard to the specific services received, to a policyholder who meets certain eligibility criteria based on health status including:

  (a) A disability income insurance policy that pays a fixed daily, weekly or monthly benefit amount to an insured who is deemed to have a disability as defined by the policy terms. See Arizona Laws 20-2501

• Bequest: Property gifted by will.
• Billing company: means any affiliated or unaffiliated company that is hired by a health care provider or health care facility to coordinate the payment of bills with health insurers and to generate or bill and collect payment from enrollees on the health care provider's or health care facility's behalf. See Arizona Laws 20-3111
• Business of life settlements: includes offering to enter into, soliciting, negotiating, procuring, effectuating, monitoring or tracking of life settlement contracts. See Arizona Laws 20-3201
• Chronic illness: means an illness that causes an individual to either:

  (a) Be unable to perform at least two activities of daily living. See Arizona Laws 20-3201

• Claim: means a request for payment for a service already provided. See Arizona Laws 20-2501
• Clean claim: means a written or electronic claim for health care services or benefits that may be processed without obtaining additional information, including coordination of benefits information, from the health care provider, the enrollee or a third party, except in cases of fraud. See Arizona Laws 20-3101
• Common law: The legal system that originated in England and is now in use in the United States. It is based on judicial decisions rather than legislative action.
• Company: means an insurer licensed pursuant to this title to transact life insurance or annuities in this state. See Arizona Laws 20-2631
• Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
• Continuance: Putting off of a hearing ot trial until a later time.
• Continuously licensed: means that a licensee's license has not terminated for any reason. See Arizona Laws 20-2901
• Contract: A legal written agreement that becomes binding when signed.
• Contracted provider: means a health care provider that has entered into a contract with a health insurer to provide health care services to the health insurer's enrollees at agreed on rates. See Arizona Laws 20-3111
• Contractor: means the person who has a contract with the department to approve continuing education providers and courses and to administer the continuing education program and who is paid through fees collected from approved providers when the approved providers apply for continuing education course approval. See Arizona Laws 20-2901
• Control: means direct or indirect ownership or power to vote twenty-five percent or more of the outstanding voting securities of a financial institution or controlling person or to control in any manner the election of a majority of the directors of a financial institution or controlling person. See Arizona Laws 6-1101
• Controlling person: means a person who is directly or indirectly in control of a financial institution. See Arizona Laws 6-1101
• Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
• Cost sharing requirements: means an enrollee's applicable out-of-network coinsurance, copayment and deductible requirements under a health plan based on the adjudicated claim. See Arizona Laws 20-3111
• Coverage: means the contractual obligation of a health care services plan to pay its enrollee or a contracted or noncontracted provider for medically necessary emergency services rendered by the provider to an enrollee, as specified in the governing agreement, contract or policy between the plan and the enrollee, subject to applicable copayments, coinsurance and deductibles. See Arizona Laws 20-2801
• Covered service: means a service that is included in a policy, evidence of coverage or similar document that specifies which services, insurance or other benefits are included or covered. See Arizona Laws 20-2501
• Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
• Denial: means a direct or indirect determination regarding all or part of a request for any service or a direct determination regarding a claim that may trigger a request for review or reconsideration. See Arizona Laws 20-2501
• Department: means the department of insurance and financial institutions. See Arizona Laws 6-101
• department: means the department of insurance and financial institutions. See Arizona Laws 20-101
• Dependent: A person dependent for support upon another.
• Deputy director: means the deputy director of the financial institutions division of the department. See Arizona Laws 6-101
• Devise: To gift property by will.
• Discovery: Lawyers' examination, before trial, of facts and documents in possession of the opponents to help the lawyers prepare for trial.
• Embezzlement: In most states, embezzlement is defined as theft/larceny of assets (money or property) by a person in a position of trust or responsibility over those assets. Embezzlement typically occurs in the employment and corporate settings. ^{Source: OCC}
• Emergency ambulance services: means services provided by an ambulance service authorized to operate pursuant to Title 36, Chapter 21. See Arizona Laws 20-2801
• Emergency services: means health care services that are provided to an enrollee in a licensed hospital emergency facility by a provider after the recent onset of a medical condition that manifests itself by symptoms of sufficient severity that the absence of immediate medical attention could reasonably be expected to result in any of the following:

  (a) Serious jeopardy to the patient's health. See Arizona Laws 20-2801

• Enrollee: means an individual, or a dependent of that individual, who is currently enrolled with and covered by a health care services plan. See Arizona Laws 20-2801
• Enrollee: means an individual who is enrolled under a health care insurer's policy, contract or evidence of coverage. See Arizona Laws 20-3101
• Enrollee: means an individual who is eligible to receive benefits through a health plan. See Arizona Laws 20-3111
• Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. ^{Source: U.S. Courts}
• Escrow: Money given to a third party to be held for payment until certain conditions are met.
• Ethics training: means continuing education course content regarding the ethical responsibilities insurance producers owe to insurers, applicants, policyholders, regulators, insurance professionals and the public. See Arizona Laws 20-2901
• Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
• Fiduciary: A trustee, executor, or administrator.
• Financial institution: means a bank, trust company, savings and loan association, international banking facility and holding company of a bank, trust company, savings and loan association and international banking facility under the jurisdiction of the department. See Arizona Laws 6-1101
• Financial institution holding company: means a corporation, trust, association, partnership or similar organization that directly or indirectly, acting through one or more persons, controls a financial institution or a controlling person. See Arizona Laws 6-1101
• Financing entity: means an underwriter, placement agent, lender, purchaser of securities, purchaser of a policy or certificate from a provider, credit enhancer or any entity that has a direct ownership in a policy or certificate that is the subject of a life settlement contract and for which both of the following apply:

  (a) The entity's principal activity related to the transaction is providing monies to effect the life settlement contract or the purchase of one or more policies. See Arizona Laws 20-3201

• Financing transaction: means a transaction in which a licensed provider obtains financing from a financing entity, including any secured or unsecured financing, any securitization transaction or any securities offering that either is registered or exempt from registration under federal and state securities law. See Arizona Laws 20-3201
• Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
• Fixed Rate: Having a "fixed" rate means that the APR doesn't change based on fluctuations of some external rate (such as the "Prime Rate"). In other words, a fixed rate is a rate that is not a variable rate. A fixed APR can change over time, in several circumstances:
  • You are late making a payment or commit some other default, triggering an increase to a penalty rate
  • The bank changes the terms of your account and you do not reject the change.
  • The rate expires (if the rate was fixed for only a certain period of time).
• Fraud: Intentional deception resulting in injury to another.
• General account: means all of the assets of an insurer other than assets in separate accounts established pursuant to section 20-651 or the insurance laws of the insurer's state of domicile if the insurer is a foreign or alien insurer. See Arizona Laws 20-2601
• Grace period: The number of days you'll have to pay your bill for purchases in full without triggering a finance charge. ^{Source: Federal Reserve}
• Grievance: means any written complaint that is subject to resolution through the insurer's system that is prescribed in section 20-3102, subsection F and submitted by a health care provider and received by a health care insurer. See Arizona Laws 20-3101
• Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
• Health care insurer: means a disability insurer, group disability insurer, blanket disability insurer, health care services organization, hospital service corporation, prepaid dental plan organization, medical service corporation, dental service corporation or optometric service corporation or a hospital, medical, dental and optometric service corporation. See Arizona Laws 20-2501
• Health care insurer: means a disability insurer, group disability insurer, blanket disability insurer, health care services organization, prepaid dental plan organization, hospital service corporation, medical service corporation, dental service corporation, optometric service corporation, or hospital, medical, dental and optometric service corporation. See Arizona Laws 20-3101
• Health care provider: means a person who is licensed, registered or certified as a health care professional under title 32 or a laboratory or durable medical equipment provider that furnishes services to a patient in a network facility and that separately bills the patient for the services. See Arizona Laws 20-3111
• Health care services: means treatment, services, medications, tests, equipment, devices, durable medical equipment, laboratory services or supplies rendered or provided to an enrollee for the purpose of diagnosing, preventing, alleviating, curing or healing human disease, illness or injury. See Arizona Laws 20-3111
• Health care services plan: means a plan offered by a disability insurer, group disability insurer, blanket disability insurer, health care services organization, hospital service corporation or medical service corporation that contractually agrees to pay or make reimbursement for health care expenses for one or more individuals residing in Arizona but does not apply to benefits provided under limited benefit coverage as defined in section 20-1137. See Arizona Laws 20-2801
• Health insurer: means a disability insurer, group disability insurer, blanket disability insurer, hospital service corporation or medical service corporation that provides health insurance in this state. See Arizona Laws 20-3111
• Health plan: means a group or individual health plan that finances or furnishes health care services and that is issued by a health insurer. See Arizona Laws 20-3111
• Incidental insurance benefit: means all of the insurance benefits in a variable life insurance policy except the variable death benefit and the minimum death benefit. See Arizona Laws 20-2601
• including: means not limited to and is not a term of exclusion. See Arizona Laws 1-215
• Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
• Insurance compliance audit: means a voluntary, internal evaluation, review, assessment, audit or investigation that follows adopted written standards and criteria for the purpose of identifying or preventing noncompliance with or promoting compliance with laws, regulations, orders or industry or professional standards that is conducted by or on behalf of a company licensed or regulated under this title and specified in subsection B of this section, or that involves an activity regulated under this title. See Arizona Laws 20-3301
• Insurance producer: means any person, corporation, partnership, or other legal entity that is licensed by this state as a life insurance producer. See Arizona Laws 20-2601
• Insured: means the person who is covered under the policy being considered for sale in a life settlement contract. See Arizona Laws 20-3201
• Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. ^{Source: OCC}
• International banking facility: means a facility that is represented by a set of asset and liability accounts segregated on the books and records of a commercial bank, the principal office of which is located in this state, and that is incorporated and doing business under the laws of the United States or of this state, a United States branch or agency of a foreign bank, an edge corporation organized under section 25(a) of the federal reserve act (12 United States Code §§ 611 through 631) or an agreement corporation having an agreement or undertaking with the board of governors of the federal reserve system under section 25 of the federal reserve act (12 United States Code §§ 601 through 604(a)) that includes only international banking facility time deposits and international banking facility extensions of credit as defined in Title 12 of the Code of Federal Regulations, Part 204. See Arizona Laws 6-101
• Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
• Lawsuit: A legal action started by a plaintiff against a defendant based on a complaint that the defendant failed to perform a legal duty, resulting in harm to the plaintiff.
• Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). ^{Source: OCC}
• Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
• License period: means the period between the date an Arizona insurance license is issued or last renewed and the expiration date of the Arizona insurance license. See Arizona Laws 20-2901
• Licensee: means an individual insurance producer licensed for major line insurance as defined in section 20-281. See Arizona Laws 20-2901
• Life expectancy: means the arithmetic mean of the number of months the insured under the life insurance policy to be settled can be expected to live considering medical records and appropriate experiential data. See Arizona Laws 20-3201
• Life insurance producer: means any person who is licensed to transact life insurance business in this state pursuant to chapter 2, article 3 of this title. See Arizona Laws 20-3201
• Minimum death benefit: means the amount of the guaranteed death benefit, except incidental insurance benefits, that is payable under a variable life insurance policy regardless of the investment performance of the separate account. See Arizona Laws 20-2601
• Month: means a calendar month unless otherwise expressed. See Arizona Laws 1-215
• Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
• Net investment return: means the rate of investment return in a separate account that is applied to the benefit base. See Arizona Laws 20-2601
• Network facility: means a health care facility that has entered into a contract with a health insurer to provide health care services to the health insurer's enrollees at agreed on rates. See Arizona Laws 20-3111
• Nonresident licensee: means a licensee who is applying to renew a nonresident license in this state. See Arizona Laws 20-2901
• Oath: A promise to tell the truth.
• Oath: includes an affirmation or declaration. See Arizona Laws 1-215
• Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
• Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
• Person: means an individual or business entity. See Arizona Laws 20-3201
• Person: includes a corporation, company, partnership, firm, association or society, as well as a natural person. See Arizona Laws 1-215
• Policy: means an individual or group policy, group certificate, contract or arrangement of life insurance owned by a resident of this state regardless of whether delivered or issued for delivery in this state. See Arizona Laws 20-3201
• Policy processing day: means the day on which the charges that are authorized in a policy are deducted from the policy's cash value. See Arizona Laws 20-2601
• Power of attorney: A written instrument which authorizes one person to act as another's agent or attorney. The power of attorney may be for a definite, specific act, or it may be general in nature. The terms of the written power of attorney may specify when it will expire. If not, the power of attorney usually expires when the person granting it dies. ^{Source: OCC}
• Premium finance loan: means a loan that is made primarily for the purpose of making premium payments on a life insurance policy and that is secured by an interest in the life insurance policy. See Arizona Laws 20-3201
• Prior authorization: means authorization by telephone or telefacsimile given in advance of the performance of an emergency service on an enrollee, by a health care services plan after receipt of necessary medical and enrollment information on the enrollee. See Arizona Laws 20-2801
• Process: means a citation, writ or summons issued in the course of judicial proceedings. See Arizona Laws 1-215
• Property: includes both real and personal property. See Arizona Laws 1-215
• Prosecute: To charge someone with a crime. A prosecutor tries a criminal case on behalf of the government.
• Provider: means the physician or other licensed practitioner identified to the utilization review agent as having primary responsibility for providing care, treatment and services rendered to a patient. See Arizona Laws 20-2501
• Provider: means any physician, hospital or other person that is licensed or otherwise authorized to furnish emergency services in this state. See Arizona Laws 20-2801
• Provider organization: means a person that provides continuing education courses but that has not yet been accepted as an approved provider pursuant to section 20-2904. See Arizona Laws 20-2901
• Purchaser: means a person who pays compensation or anything of value as consideration for a beneficial interest in a trust that is vested with, or for the assignment, transfer or sale of, an ownership or other interest in a life insurance policy or a certificate issued pursuant to a group life insurance policy that has been the subject of a life settlement contract. See Arizona Laws 20-3201
• Related provider trust: means a titling trust or other trust that is established by a licensed provider or a financing entity for the sole purpose of holding the ownership or beneficial interest in purchased policies in connection with a financing transaction and that has a written agreement with the licensed provider under which the licensed provider is responsible for ensuring compliance with all statutory and regulatory requirements and under which the trust agrees to make all records and files relating to life settlement transactions available to the department as if those records and files were maintained directly by the licensed provider. See Arizona Laws 20-3201
• Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
• Rescission: The cancellation of budget authority previously provided by Congress. The Impoundment Control Act of 1974 specifies that the President may propose to Congress that funds be rescinded. If both Houses have not approved a rescission proposal (by passing legislation) within 45 days of continuous session, any funds being withheld must be made available for obligation.
• Restitution: The court-ordered payment of money by the defendant to the victim for damages caused by the criminal action.
• Right of rescission: Right to cancel, within three business days, a contract that uses the home of a person as collateral, except in the case of a first mortgage loan. There is no fee to the borrower, who receives a full refund of all fees paid. The right of rescission is guaranteed by the Truth in Lending Act (TILA). ^{Source: OCC}
• Scheduled premium policy: means a variable life insurance policy under which both the amount and timing of premium payments are fixed by the insurer. See Arizona Laws 20-2601
• sent: means to deliver by United States mail, personal delivery or fax or by electronic means consistent with the requirements of section 20-239. See Arizona Laws 20-117
• Separate account: means a separate account established pursuant to section 20-651 or the insurance laws of the insurer's state of domicile if the insurer is a foreign or alien insurer. See Arizona Laws 20-2601
• Sequester: To separate. Sometimes juries are sequestered from outside influences during their deliberations.
• Service: means a diagnostic or therapeutic medical or health care service, benefit or treatment. See Arizona Laws 20-2501
• Service of process: The service of writs or summonses to the appropriate party.
• Settled: means a life insurance policy or certificate that has been acquired by a provider pursuant to a life settlement contract. See Arizona Laws 20-3201
• Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
• Special purpose entity: means a corporation, partnership, trust, limited liability company or other legal entity whose securities pay a fixed rate of return commensurate with established asset-backed capital markets or that has been formed solely to provide either directly or indirectly access to institutional capital markets:

  (a) For a financing entity or provider. See Arizona Laws 20-3201

• Statute: A law passed by a legislature.
• Stranger originated life insurance: means an intentional practice or plan as prescribed in Section 20-443. See Arizona Laws 20-3201
• Subpoena: A command to a witness to appear and give testimony.
• Surprise out-of-network bill: means a bill for a health care service that was provided in a network facility by a health care provider that is not a contracted provider and that meets one of the requirements listed in section 20-3113. See Arizona Laws 20-3111
• Terminally ill: means having an illness or sickness that can reasonably be expected to result in death in twenty-four months or less. See Arizona Laws 20-3201
• Testify: Answer questions in court.
• Testify: includes every manner of oral statement under oath or affirmation. See Arizona Laws 1-215
• Testimony: Evidence presented orally by witnesses during trials or before grand juries.
• Tort: A civil wrong or breach of a duty to another person, as outlined by law. A very common tort is negligent operation of a motor vehicle that results in property damage and personal injury in an automobile accident.
• Trial: A hearing that takes place when the defendant pleads "not guilty" and witnesses are required to come to court to give evidence.
• Trust account: A general term that covers all types of accounts in a trust department, such as estates, guardianships, and agencies. ^{Source: OCC}
• Trustee: A person or institution holding and administering property in trust.
• United States: includes the District of Columbia and the territories. See Arizona Laws 1-215
• Utilization review: means a system for reviewing the appropriate and efficient allocation of inpatient hospital resources, inpatient medical services and outpatient surgery services that are being given or are proposed to be given to a patient, and of any medical, surgical and health care services or claims for services that may be covered by a health care insurer depending on determinable contingencies, including without limitation outpatient services, in-office consultations with medical specialists, specialized diagnostic testing, mental health services, emergency care and inpatient and outpatient hospital services. See Arizona Laws 20-2501
• Utilization review agent: means a person or entity that performs utilization review. See Arizona Laws 20-2501
• Utilization review plan: means a summary description of the utilization review guidelines, protocols, procedures and written standards and criteria of a utilization review agent. See Arizona Laws 20-2501
• Variable annuity: means an individual policy or contract that provides for annuity benefits that vary according to the investment experience of a separate account or accounts that the insurer maintains pursuant to section 20-651 or the corresponding insurance laws of a foreign insurer's domiciliary state. See Arizona Laws 20-2631
• Variable contracts: means a variable life insurance policy or a variable annuity as defined in sections 20-2601 and 20-2631, respectively. See Arizona Laws 20-2661
• Variable death benefit: means the amount of the death benefit, except incidental insurance benefits, that is payable under a variable life insurance policy, that is dependent on the investment performance of the separate account and that the insurer must pay in the absence of any minimum death benefit. See Arizona Laws 20-2601
• Variable group annuity: means a group policy or contract of two or more individuals that provides for annuity benefits that vary according to the investment experience of a separate account or accounts that the insurer maintains pursuant to section 20-651 or the corresponding insurance laws of a foreign insurer's domiciliary state. See Arizona Laws 20-2661
• Variable group contracts: means a variable group annuity or a variable group life insurance policy. See Arizona Laws 20-2661
• Variable life insurance policy: means an individual policy that provides for life insurance, the amount or duration of which varies according to the investment experience of any separate account or accounts that are established and maintained by the insurer pursuant to section 20-651 or the insurance laws of the insurer's state of domicile if the insurer is a foreign or alien insurer. See Arizona Laws 20-2601
• Venue: The geographical location in which a case is tried.
• Voting security: means any security presently entitling the owner or holder of the security to vote for the election of directors of a financial institution or controlling person, excluding, in the case of a savings and loan association, votes attributable to savings accounts. See Arizona Laws 6-1101
• Wilfully: means , with respect to conduct or to a circumstance described by a statute defining an offense, that a person is aware or believes that the person's conduct is of that nature or that the circumstance exists. See Arizona Laws 1-215
• Writing: includes printing. See Arizona Laws 1-215