Failure to pay the required assessment in a timely manner, will result in what action?

The AATA will refer any companies that fail to pay the assessment in a timely manner to the Arizona Department of Insurance. Pursuant to Arizona Revised Statute §41-3453: "Failure to pay fee; Definition; the Automobile Theft Authority shall notify the Director of the Department of Insurance and Financial Institutions 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 transmit the civil penalty to the state treasurer for deposit in the Automobile Theft Authority Fund."