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6-991.12 - Notice of claim to judgment debtor; response
6-991.12. Notice of claim to judgment debtor; response
(L09, Ch. 163, sec. 12. Eff. until 7/1/20)
A. Within the same time prescribed by section 6-991.11, subsection C for applying for payment from the mortgage recovery fund, an aggrieved party who applies for payment shall serve notice of the claim on the judgment debtor, together with a copy of the application. The notice shall be in the following form:
Based on a judgment against you in favor of (enter name of claimant), application is being made to the Arizona department of financial institutions for payment from the mortgage recovery fund.
If you wish to contest payment from the mortgage recovery fund, you must file a written response to the application. The superintendent of financial institutions must receive your response at (address) within thirty-five calendar days after the date this notice is (mailed, delivered, first published). You must also send a copy of the response to the claimant. If you fail to respond as required, you waive your right to present your objections to payment.
B. If the judgment debtor holds a current license issued by the department, the notice and copy of the application may be served by certified mail, return receipt requested, addressed to the judgment debtor's latest business or residence address on file with the department. If the judgment debtor does not hold a current license and if personal delivery cannot be effected by exercising reasonable diligence, the claimant must publish the notice once a week for two consecutive weeks in a newspaper of general circulation in the county in which the judgment debtor was last known to reside.
C. If the judgment debtor fails to file a written response to the application with the department within thirty-five calendar days after service under subsection B of this section or after the first publication of the notice, the judgment debtor is not entitled to notice of any action taken or proposed to be taken by the superintendent with respect to the claim.