The Arizona Revised Statutes have been updated to include the revised sections from the 56th Legislature, 1st Regular Session. Please note that the next update of this compilation will not take place until after the conclusion of the 56th Legislature, 2nd Regular Session, which convenes in January 2024.
DISCLAIMER
This online version of the Arizona Revised Statutes is primarily maintained for legislative drafting purposes and reflects the version of law that is effective on January 1st of the year following the most recent legislative session. The official version of the Arizona Revised Statutes is published by Thomson Reuters.
In this article, unless the context otherwise requires:
1. "Actuarial opinion" means the opinion of an appointed actuary regarding the adequacy of the reserves and related actuarial items that is based on an asset adequacy analysis conducted pursuant to section 20-696.03 and that is based on presently accepted actuarial standards of practice.
2. "Actuarial standards board" means the board that is established by the American academy of actuaries to develop and promulgate actuarial standards of practice.
3. "Annual statement" means the statement that an insurer annually files with the director pursuant to section 20-223.
4. "Appointed actuary" means an individual who is appointed or retained pursuant to section 20-696.02, subsection D to provide the actuarial opinion and supporting memorandum prescribed by section 20-510, subsection E or F.
5. "Asset adequacy analysis" means an analysis that meets the standards and other requirements prescribed pursuant to section 20-696.02, subsection E.
6. "Company" means an insurer, fraternal benefit society or reinsurer that is subject to this article pursuant to section 20-696.
7. "Qualified actuary" means any individual who meets the requirements prescribed in section 20-696.02, subsection B.