REFERENCE TITLE: financial responsibility; verification; technical correction

State of Arizona Senate Fiftieth Legislature First Regular Session 2011

SB 1124

Introduced by Senator Klein

 

AN ACT

 

amending section 20-236, Arizona Revised Statutes; relating to transaction of insurance business.

 

 

(TEXT OF BILL BEGINS ON NEXT PAGE)

 

Be it enacted by the Legislature of the State of Arizona:

Section 1.  Section 20-236, Arizona Revised Statutes, is amended to read:

START_STATUTE20-236.  Civil penalty for failure to respond to a request for verification of financial responsibility

If the director finds after a hearing that, upon certification by the department of transportation, an insurer has failed to respond in writing within thirty days to a financial responsibility verification request required pursuant to section 28‑4143, the director shall impose a civil penalty of not more than two hundred fifty dollars for each violation but not to exceed an aggregate penalty of twenty thousand dollars in any one six‑month period. END_STATUTE