The Arizona Revised Statutes have been updated to include the revised sections from the 54th Legislature, 2nd Regular Session. Please note that the next update of this compilation will not take place until after the conclusion of the 55th Legislature, 1st Regular Session, which convenes in January 2021.
This online version of the Arizona Revised Statutes is primarily maintained for legislative drafting purposes and reflects the version of law that is effective on January 1st of the year following the most recent legislative session. The official version of the Arizona Revised Statutes is published by Thomson Reuters.
A. The superintendent may deny renewal of a license or suspend or revoke a license if the superintendent finds that a licensee:
1. Is insolvent as defined in section 47-1201.
2. Has shown that the licensee is not a person of honesty, truthfulness and good character.
3. Has failed to pay the annual renewal fees.
4. Has failed to file an annual report when due or within any extension of time granted by the superintendent for good cause.
5. Has failed to have or maintain at least twenty-five thousand dollars in assets used or readily available for use in the conduct of the business of each licensed office and branch office.
6. Either knowingly or without the exercise of due care to prevent a violation, has violated any provision of this title or any rule or order adopted or made pursuant to this title.
7. Has failed to operate the business of making consumer lender loans for a continuous period of twelve months or more, except that the superintendent, on good cause shown, may extend the time for operating that business for a single fixed period of not more than twelve months.
B. The superintendent may also deny renewal of a license or suspend or revoke a license if the superintendent finds that any fact or condition exists that, if it had existed at the time of the original application for the license, would have clearly warranted the superintendent to refuse to issue the license.