There is a newer version
of
this Section
2017 Arizona Revised Statutes
Title 20 - Insurance
§ 20-1543 Limitation on geographic concentration
Universal Citation: AZ Rev Stat § 20-1543 (2017)
20-1543. Limitation on geographic concentration
A. A mortgage guaranty insurance company shall not:
1. Insure loans secured by a single risk in excess of ten per cent of the company's aggregate capital, surplus and contingency reserve.
2. Have more than twenty per cent of its total insurance in force in any one standard metropolitan statistical area, as defined by the United States department of commerce.
B. The provisions of this section shall not apply to a mortgage guaranty insurance company until it has possessed a certificate of authority in this state for three years.
Disclaimer: These codes may not be the most recent version. Arizona may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google
Privacy Policy and
Terms of Service apply.
