Bill Text: AZ SB1501 | 2021 | Fifty-fifth Legislature 1st Regular | Introduced

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Bill Title: Financial responsibility; verification; technical correction

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced - Dead) 2021-02-02 - Senate read second time [SB1501 Detail]

Download: Arizona-2021-SB1501-Introduced.html

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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