Arizona Laws 32-1023. Qualifications of applicants
A. An applicant for a license issued under this chapter shall:
Terms Used In Arizona Laws 32-1023
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Deputy director: means the deputy director of the financial institutions division of the department of insurance and financial institutions. See Arizona Laws 32-1001
- Moral turpitude: means an offense, whether a misdemeanor or felony, that is related to extortion, burglary, larceny, bribery, embezzlement, robbery, racketeering, money laundering, forgery, fraud, murder, voluntary manslaughter or a sexual offense that requires the individual to register pursuant to section 13-3821. See Arizona Laws 1-215
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- Person: means an individual, firm, partnership, association or corporation. See Arizona Laws 32-1001
- United States: includes the District of Columbia and the territories. See Arizona Laws 1-215
1. Be a citizen of the United States.
2. Not have been convicted of a crime involving moral turpitude.
3. Not have defaulted on payment of money collected or received for another.
4. Not have been a former licensee under this chapter whose license was suspended or revoked and not subsequently reinstated.
B. If the applicant for a license is a firm, partnership, association or corporation, the qualifications required by subsection A of this section shall be required of the individual in active management of the firm, partnership, association or corporation.
C. When a licensed agency ceases to be under the active management of a qualified person, as defined in rules, notice of this fact shall be given to the deputy director within ten days. The licensee shall have ninety days after the termination of the services of the acting manager to replace the qualified person and notify the deputy director of the qualified replacement. If the agency is not placed under the active management of a new qualified person and notice is not given to the deputy director within the ninety-day period, the license of the agency expires unless a provisional license has been granted under section 32-1027.