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.
6-606. Business limited to licensed locations; restrictions
A. Except as provided in subsection B of this section, no licensee may conduct the business of making consumer lender loans pursuant to this chapter under any name or at any place of business in this state other than the name and place stated in the licensee's consumer lender license or branch office license.
B. Subsection A of this section does not prohibit a licensee from:
1. Making consumer lender loans by mail or electronic means.
2. On request, making accommodations to consumers at any location requested by the consumer.
3. Conducting any administrative, loan servicing or record keeping activity at any other location not open to the public, if the superintendent is notified in advance of that activity.
4. Closing a consumer lender loan secured by real property at an office of a financial institution, title company, licensed escrow agent, licensed mortgage broker or licensed mortgage banker.
5. Giving a consumer an advance on a consumer revolving loan or home equity revolving loan from any location.
C. On approval by the superintendent, the licensee may conduct any of the activities listed in subsection B of this section outside of this state.
D. A licensee may change the location of its licensed office or licensed branch office by giving written notice to the superintendent, who shall amend the license accordingly.
E. All consumer lender loans that are made at the location of a licensed office or branch office are subject to the requirements of article 2 of this chapter, whether made by a licensee, any person otherwise exempt from this chapter pursuant to section 6-602 or any other person.
F. No licensee may conduct the business of making consumer lender loans pursuant to this chapter from within any licensed office or branch office in which any other business not licensed pursuant to this title is solicited or engaged in, or in association or conjunction with any other business not licensed pursuant to this title, without giving prior notice to the superintendent. If it appears to the superintendent that the other business is of such a nature or is being conducted in such a manner as to conceal an evasion of this chapter or is contrary to the public interest or otherwise being conducted in an unlawful manner, the superintendent may act pursuant to section 6-137 to restrict the licensee from conducting its business in conjunction with that other business. For the purposes of this subsection "public interest" means the laws of this state or of the United States or rules adopted by the superintendent.