Arizona Laws 18-607. Exit requirements
A. At least thirty days before the end of the twenty-four-month property technology sandbox testing period, a sandbox participant must notify the chief executive officer that the sandbox participant will exit the property technology sandbox, wind down its test and cease offering any innovative property products or services in the property technology sandbox within sixty days after the twenty-four-month testing period ends.
Terms Used In Arizona Laws 18-607
- Chief executive officer: means the chief executive officer of the Arizona commerce authority. See Arizona Laws 18-601
- Person: includes a corporation, company, partnership, firm, association or society, as well as a natural person. See Arizona Laws 1-215
- Property: includes both real and personal property. See Arizona Laws 1-215
- Property technology sandbox: means the program established by this chapter that allows a person to temporarily test innovative property products or services on a limited basis without otherwise being authorized to act under the laws of this state. See Arizona Laws 18-601
- Sandbox participant: means a person whose application to participate in the property technology sandbox is approved pursuant to this chapter. See Arizona Laws 18-601
- Test: means to provide products and services as allowed by this chapter. See Arizona Laws 18-601
B. If the chief executive officer does not receive notification pursuant to subsection A of this section, the property technology testing period ends at the end of the twenty-four-month testing period and the sandbox participant must immediately cease offering innovative property products or services.
C. If a test includes offering products or services that require ongoing duties, the sandbox participant must continue to fulfill those duties or arrange for another person to fulfill those duties after the date the sandbox participant exits the property technology sandbox.