Arizona Laws 44-2039. Securities regulatory and enforcement fund; purpose
A. The securities regulatory and enforcement fund is established and shall be administered by the commission under the conditions and for the purposes provided by this section. Monies in the fund are exempt from the provisions of section 35-190 relating to lapsing.
Terms Used In Arizona Laws 44-2039
- Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
- Division: means the securities division of the commission. See Arizona Laws 44-1801
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
B. Fees collected pursuant to section 44-1861, subsections A, D and P and section 44-3324 shall be deposited, pursuant to sections 35-146 and 35-147, in the securities regulatory and enforcement fund, except as provided in subsection D of this section and except that all other revenues collected in each fiscal year in excess of the amount appropriated from the fund by the legislature shall be deposited in the state general fund.
C. Monies in the fund are subject to legislative appropriation. The commission shall use the monies in the fund for education and regulatory, investigative and enforcement operations in the securities division and a part of general administrative and hearing expenses of the commission.
D. On February 1 and June 30 of each year, monies deposited in the securities regulatory and enforcement fund pursuant to section 44-3324 are transferred to the state general fund.