Arizona Revised Statutes Title 20, Secs. 20-1801 onward: Life Care Contracts

What this document is

Arizona Revised Statutes Title 20, Secs. 20-1801 onward - Life Care Contracts is a state statute published by Arizona State Legislature (azleg.gov). It is one of the Arizona documents that insurance license exam questions are written from, including arizona life & health practice questions. This page summarizes it and points to the official version, which is the text to rely on.

Sections cited in practice questions

Each practice answer shows the exact passage it comes from. These are sections of this document that questions cite, with a short excerpt from the source text.

• A.R.S. Title 20 § 20-1801 (Life Care Contracts: Definitions)

  “"Entrance fee" means an initial or deferred transfer to a provider of a sum of money or property, made or promised to be made by a person entering into a life care contract, which assures a resident or contract holder of services pursuant to a life care contract.”

• A.R.S. Title 20 § 20-1804 (Entrance Fee Escrow; Refundable Fee)

  “If the entrance fee applies to a living unit that has been previously occupied in the facility, the entrance fee shall be released to the provider at such time as the living unit becomes available for occupancy by the new resident.”

• A.R.S. Title 20 § 20-1802 (Permit Required; Application; Verification)

  “The application shall be signed under oath by the chief executive officer of the applicant.”

• A.R.S. Title 20 § 20-1812(B) (Disclosure Statement; Contents; Refunds)

  “The purchaser must separately initial each disclosure prescribed by subsection A, paragraph 2 of this section and verify that the person has read and understands the information presented in each disclosure. The provider shall give an initialed copy of the separate disclosure statement to the...”

• A.R.S. Title 20 § 20-1808(C) (Rehabilitation of Provider)

  “If at any time the director receives notice from the escrow agent that section 20-1806 has not been complied with, if at any other time when the director has reason to believe that the provider is in a financially unsound or unsafe condition or that its condition is such that it may otherwise be...”

• A.R.S. Title 20 § 20-1806 (Reserve Fund Escrow)

  “The escrow agreement shall provide that upon withdrawal of any such amount by the provider, the escrow agent shall provide immediate written notice of such withdrawal to the director and that any amount released to the provider shall be repaid to the escrow account within two years of the release...”

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More Arizona sources

• Ariz. Rev. Stat. s. 20-443: Misrepresentations and false advertising of policiesState statute
• Ariz. Rev. Stat. s. 20-295: License denial, suspension, or revocation; civil penaltyState statute
• Ariz. Rev. Stat. ss. 20-448, 20-452: Unfair discrimination and rebatesState statute
• Ariz. Rev. Stat. ss. 20-1203 to 20-1210: Standard life insurance policy provisionsState statute
• A.R.S. Title 20, Chapter 2, Article 2 - Unfair Trade Practices (Secs. 20-441 through 20-462)State statute
• Arizona Revised Statutes Title 20, Chapter 1 - General Provisions (Secs. 20-101 through 20-191)State statute
• Arizona Revised Statutes Title 20, Secs. 20-1001 onward - Prepaid Dental Plan Organizations and Related EntitiesState statute
• Arizona Revised Statutes Title 20, Secs. 20-1101 onward - The Insurance ContractState statute