20-640 - Arizona Statutes

20-640. Time to file claims A. If, upon the granting of an order of liquidation under this article or at any time thereafter during the liquidation proceeding, the insurer is not clearly solvent, the court shall, after such notice and hearing as it deems proper, make an order declaring the insurer to be insolvent. Thereupon regardless of any prior notice which may have been given to creditors, the receiver shall notify all persons who may have claims against the insurer and who have not filed proper proofs thereof to present them to him, at a place specified in the notice, within four months from the date of entry of the order, or if the receiver certifies that it is necessary, within such longer time as the court shall prescribe. The last day for filing of proofs of claims shall be specified in the notice, and notice shall be given in a manner to be determined by the court. B. Proofs of claim may be filed subsequent to the date specified, but no such claim shall share in the distribution of the assets until all allowed claims, proofs of which have been filed before such date, have been paid in full with interest according to the priorities established in section 20-629.