The Arizona Revised Statutes have been updated to include the revised sections from the 55th Legislature, 2nd Regular Session. Please note that the next update of this compilation will not take place until after the conclusion of the 56th Legislature, 1st Regular Session, which convenes in January 2023.
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.
In this chapter, unless the context otherwise requires:
1. "Agency" means any business serving the public, which as part of its services accepts money for and on behalf of a licensee.
2. "Branch office" means any office operated solely for the purpose of accepting money and performing other services for a licensee.
3. "Creditor" means a person for whose benefit monies are being collected and disbursed by a licensee.
4. "Debt management company" means a corporation, company, firm, partnership, association or society, as well as a natural person, that for compensation engages in the business of receiving money, or evidences thereof, in this state or from a resident of this state as agent of a debtor for the purpose of distributing the same to his creditors in payment or partial payment of his obligations.
5. "Debtor" means a person from whom monies are being accepted for disbursement to creditors.
6. "License" means a license issued under this chapter.
7. "Licensee" means a corporation, company, firm, partnership, association or society, as well as a natural person, licensed by the deputy director to engage in the business of a debt management company pursuant to this chapter.
8. "Nonprofit religious, fraternal or cooperative organizations" means religious, fraternal or cooperative organizations or entities whose primary functions or purposes are not the provision of debt management services.