20-662. Insurance guaranty fund

A. There is established an Arizona property and casualty insurance guaranty fund within the department of insurance. The fund shall be deposited in a depository designated by the director and shall exercise its powers through a board established pursuant to section 20-663.

B. For the purpose of assessment, the fund shall be divided into two separate accounts:

1. The automobile insurance account.

2. The account for all other insurance to which this article applies.

C. All costs, expenses and liabilities of the fund shall be paid by the fund and shall not be a general obligation of the state.

D. All monies placed in the accounts of the fund may be expended for the purposes of this article.

20-662. Insurance guaranty fund

A. There is established an Arizona property and casualty insurance guaranty fund within the department of insurance. The fund shall be deposited in a depository designated by the director and shall exercise its powers through a board established pursuant to section 20-663.

B. For the purpose of assessment, the fund shall be divided into two separate accounts:

1. The automobile insurance account.

2. The account for all other insurance to which this article applies.

C. All costs, expenses and liabilities of the fund shall be paid by the fund and shall not be a general obligation of the state.

D. All monies placed in the accounts of the fund may be expended for the purposes of this article.