It is unlawful for a mortgagee to require the payment of any insurance service charge for services performed in changing of the mortgagee's records and accounts with regard to a change in ownership of the insured property held as security by the mortgagee and with regard to which the mortgagee issues a written beneficiary statement or assumption statement.
A.R.S. § 20-472
Service charges in connection with insurance on collateral security prohibited when change of ownership
Official source: Arizona State Legislature. Reproduced from public-domain Arizona statutes; confirm against the official source for the current text. Not legal advice.