Bill Text: AZ HB2356 | 2013 | Fifty-first Legislature 1st Regular | Chaptered
Bill Title: Insurance; prohibited inducements
Spectrum: Partisan Bill (Republican 12-0)
Status: (Passed) 2013-04-05 - Governor Signed [HB2356 Detail]
Download: Arizona-2013-HB2356-Chaptered.html
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House Engrossed |
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State of Arizona House of Representatives Fifty-first Legislature First Regular Session 2013
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CHAPTER 57
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HOUSE BILL 2356 |
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AN ACT
Amending section 20‑452, Arizona Revised Statutes; relating to transaction of insurance business.
(TEXT OF BILL BEGINS ON NEXT PAGE)
Be it enacted by the Legislature of the State of Arizona:
Section 1. Section 20-452, Arizona Revised Statutes, is amended to read:
20-452. Prohibited inducements
Except as permitted in sections 20‑453 and 20‑454, any insurer, insurance producer or other person, as an inducement to insurance or in connection with any insurance transaction, shall not provide in any policy for or offer, sell, buy or offer or promise to buy, sell, give, promise or allow to the insured or prospective insured or to any other person on behalf of the insured or prospective insured in any manner:
1. Any employment.
2. Any shares of stock or other securities issued or at any time to be issued or any interest therein or rights thereto.
3. Any advisory board contract, or any similar contract, agreement or understanding, offering, providing for or promising any special profits.
4. Any prizes, goods, wares, merchandise or tangible property of an aggregate value of more than ten twenty‑five dollars.
APPROVED BY THE GOVERNOR APRIL 5, 2013.
FILED IN THE OFFICE OF THE SECRETARY OF STATE APRIL 5, 2013.
