The Arizona Revised Statutes have been updated to include the revised sections from the 53rd Legislature, 2nd Regular Session. Please note that the next update of this compilation will not take place until after the conclusion of the 54th Legislature, 1st Regular Session, which convenes in January 2019.
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. On written request to the director, a surety on a bond furnished by a licensee pursuant to this article shall be discharged from any liability to the state accruing on the bond after the last day of the month that includes the sixtieth day after the date of filing the request but not from liability already accrued or accruing before the last day of the month that includes the end of the sixty day period. On receipt of such a request, the director shall promptly notify the licensee who furnished the bond in question.
B. Unless the licensee files a new bond satisfactory to the director on or before the last day of the month that includes the end of the sixty day period, the director shall immediately revoke the licensee's license.