Joint ventures, partnerships and limited liability companies shall be valued based on the underlying equity reported in the entity's financial statements pursuant to the accounting practices and procedures manual adopted by the national association of insurance commissioners.
A.R.S. § 20-512.01
Valuation of joint ventures, partnerships and limited liability companies
Official source: Arizona State Legislature. Reproduced from public-domain Arizona statutes; confirm against the official source for the current text. Not legal advice.