Arizona Laws 44-1531.01. Consumer protection-consumer fraud revolving fund; use of fund
A. The consumer protection-consumer fraud revolving fund is established to be administered by the attorney general under the conditions and for the purposes provided by this section. Monies in the fund are subject to legislative appropriation. Monies in the fund are exempt from the provisions of section 35-190, relating to lapsing of appropriations.
Terms Used In Arizona Laws 44-1531.01
- 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
- Attorney general: means the attorney general of Arizona or the attorney general's authorized delegate. See Arizona Laws 44-1521
- Director: means the director of the securities division of the commission. See Arizona Laws 44-1801
- Division: means the securities division of the commission. See Arizona Laws 44-1801
- Fraud: Intentional deception resulting in injury to another.
- including: means not limited to and is not a term of exclusion. See Arizona Laws 1-215
- Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
B. The fund consists of the following:
1. Any investigative or court costs, attorney fees or civil penalties recovered for the state by the attorney general as a result of enforcement of either state or federal statutes pertaining to consumer protection or consumer fraud, whether by final judgment, settlement or otherwise, except that the costs, penalties or fees recovered by a county attorney shall be retained in the county and used for investigative operations for consumer protection in the county.
2. Monies deposited pursuant to section 41-5603.
C. The attorney general shall use the monies in the fund for operating expenses, including any cost or expense associated with the tobacco master settlement agreement arbitration, consumer fraud education and investigative and enforcement operations of the consumer protection division.
D. On or before January 15, April 15, July 15 and October 15, the attorney general shall file with the governor, with copies to the director of the department of administration, the president of the senate, the speaker of the house of representatives, the secretary of state and the staff director of the joint legislative budget committee, a full and complete account of the receipts and disbursements from the fund in the previous calendar quarter.
E. On or before January 15, April 15, July 15 and October 15, each county attorney who retains monies pursuant to subsection B of this section shall provide the county board of supervisors with a full and complete account of the receipts and disbursements of the monies in the previous calendar quarter.