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Statutory Authority

Arizona Revised Statutes  §41-3451, §41-3453

 

Pursuant to Arizona Revised Statute §41-3451:

"Each insurer issuing motor vehicle liability insurance policies in this state shall pay a semiannual fee of fifty cents per vehicle insured under a motor vehicle liability insurance policy issued by the insurer. The fee shall be fully earned and nonrefundable at the time the insurer collects the premium for the motor vehicle liability insurance policy. Each insurer shall transmit the fee on or before January 31 and on or before July 31 of each year to the Auto Theft Authority for deposit in the Automobile Theft Authority for deposit in the Automobile Theft Authority Fund. The payment due on or before January 31 shall cover vehicles insured under policies that are issued during the period from July 1 through December 31 of the previous year. The payment due on or before July 31 shall cover vehicles insured under policies that are issued during the period from January 1 through June 30 of the same year."

Further: A.R.S. §41-3453 states:

"Failure to pay fee; definition; the Automobile Theft Authority shall notify the Director of the Department of Insurance 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."

Related Terms: 
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