Arizona Revised Statutes Title 35. Public Finances § 35-1211. Civil penalties; hearing; noncompliance

A. The administrator may assess against and collect the following from an eligible depository for noncompliance with the requirements of this chapter:

B. The eligible depository deemed in noncompliance may request a hearing before a civil penalty is imposed pursuant to this section. Any civil penalty assessed under this section shall be paid within thirty days after receipt of the assessment, or the administrator may assess and collect an additional penalty of five per cent of the amount of the civil penalty for each month or part of a month that the payment is delinquent. The administrator may make available to the public relevant information regarding civil penalties assessed against an eligible depository.

C. Any penalties collected pursuant to this section shall be deposited, pursuant to §§ 35-146 and 35-147, in the state general fund.

D. If an eligible depository fails to pay the penalties assessed by the administrator pursuant to this section, the administrator may notify local agency treasurers with deposits in the eligible depository of the noncompliance.