20-504. Reporting assets not allowed All assets not allowed and all other assets of doubtful value or character included as assets in any statement by an insurer to the director, or in any examiner's report to him, shall also be reported, to the extent of the value disallowed, as deductions from the gross assets of the insurer except where the director permits a reserve to be carried among the liabilities of the insurer in lieu of any such deduction.
Arizona Legal Code