The Arizona Revised Statutes have been updated to include the revised sections from the 55th Legislature, 1st Regular Session. Please note that the next update of this compilation will not take place until after the conclusion of the 55th Legislature, 2nd Regular Session, which convenes in January 2022.
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.
6-610 - Effect of revocation, suspension or surrender on preexisting contract; impairment of contracts
6-610. Effect of revocation, suspension or surrender on preexisting contract; impairment of contracts
A. The revocation, suspension or surrender of a consumer lender license does not impair or affect:
1. The obligation of any preexisting consumer lender loan between the consumer lender and any consumer.
2. The ability or right of the consumer lender to service existing consumer lender loans from outside this state.
B. If this chapter or any part of this chapter is modified, amended or repealed, resulting in a cancellation or alteration of any consumer lender license or right of a licensee under this chapter, that cancellation or alteration does not impair or affect the obligation of any preexisting contract between a consumer lender and any consumer.