REFERENCE TITLE: financial responsibility; verification; technical correction

State of Arizona

Senate

Fifty-fifth Legislature

First Regular Session

2021

SB 1501

Introduced by

Senator Townsend

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