Are changes in service providers considered material business plan changes, a.k.a. changes in the plan of operations, requiring prior approval, and if so, what are the steps to make these changes?
Are changes in service providers considered material business plan changes, a.k.a. changes in the plan of operations, requiring prior approval, and if so, what are the steps to make these changes?
YES. While we do not explicitly approve service providers in the usual sense, we generally consider changes in providers to be material changes to the plan of operations subject to our prior approval pursuant to A.R.S. 20-1098.22. See the Reference Guides on our website for more information about what is required when changing captive managers (section 3), opining actuaries (appendix A), and independent audit firms (appendix B).