The Arizona Revised Statutes have been updated to include the revised sections from the 56th Legislature, 1st Regular Session. Please note that the next update of this compilation will not take place until after the conclusion of the 56th Legislature, 2nd Regular Session, which convenes in January 2024.
DISCLAIMER
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.
6-980 - Annual renewal; expiration on failure to renew
6-980. Annual renewal; expiration on failure to renew
A. For licenses approved on or before March 31, 2009:
1. Licenses that are not renewed by March 31, 2009 are suspended, and the licensee shall not act as a commercial mortgage banker until the license is renewed or a new license is issued pursuant to this article.
2. A person may renew a suspended license by making an application for renewal as prescribed by the deputy director.
3. Licenses that are not renewed by April 30, 2009 expire. A license shall not be granted to the holder of an expired license except as provided in this article for issuing an original license.
B. For licenses approved after or renewed on March 31, 2009:
1. If a license is not renewed by December 31, 2009 and by December 31 of each subsequent year, the license is suspended. The licensee shall not act as a commercial mortgage banker until the license is renewed or a new license is issued pursuant to this article.
2. A person may renew a suspended license by applying for renewal as prescribed by the deputy director.
3. Licenses that are not renewed by January 31 expire. A license shall not be granted to the holder of an expired license except as provided in this article for issuing an original license.