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REFERENCE TITLE: auto theft authority; fee overpayment |
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State of Arizona House of Representatives Fifty-sixth Legislature Second Regular Session 2024
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HB 2609 |
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Introduced by Representative Livingston
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An Act
amending section 41-3453, Arizona Revised Statutes; relating to the automobile theft authority.
(TEXT OF BILL BEGINS ON NEXT PAGE)
Be it enacted by the Legislature of the State of Arizona:
Section 1. Section 41-3453, Arizona Revised Statutes, is amended to read:
41-3453. Failure to pay fee; overpayment; credit; definitions
A. The automobile theft authority shall notify the director of an insurer's failure to pay the fee prescribed by section 41-3451, subsection J. On receiving notice of an insurer's failure to pay the fee, the director may suspend the insurer's certificate of authority or impose a civil penalty of not more than one hundred twenty percent of the amount due, or both. The insurer shall pay the civil penalty to the director. The director shall deposit, pursuant to sections 35-146 and 35-147, the civil penalty in the automobile theft authority fund.
b. An insurer that has overpaid the fee prescribed by section 41-3451 is entitled to a refund of the overpaid amount or may have the overpaid amount applied as a credit against future automobile theft AUTHORITY fees. The insurer shall submit a request for a refund or credit to the automobile theft authority and include documentation or information substantiating the overpaid amount.
B. C. For the purposes of this section:
1. "Director" means the director of the department of insurance and financial institutions.
2. "Insurer" means an insurer that writes motor vehicle insurance in this state, including reciprocal insurers, mutual companies, mutual associations and Lloyd's plans.