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Current as of January 01, 2025 | Updated by Findlaw Staff
A. At least thirty days before the end of the twenty-four-month regulatory sandbox testing period, a sandbox participant must either:
1. Notify the attorney general that the sandbox participant will exit the regulatory sandbox, wind down its test and cease offering any innovative products or services in the regulatory sandbox within sixty days after the twenty-four-month testing period ends.
2. Seek an extension pursuant to § 41-5608 to pursue a license or other authorization required by law.
B. If the attorney general does not receive notification pursuant to subsection A of this section, the regulatory sandbox testing period ends at the end of the twenty-four-month testing period and the sandbox participant must immediately cease offering innovative products or services.
C. If a test includes offering products or services that require ongoing duties, such as servicing a loan, 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 regulatory sandbox.
Cite this article: FindLaw.com - Arizona Revised Statutes Title 41. State Government § 41-5607. Exit requirements - last updated January 01, 2025 | https://codes.findlaw.com/az/title-41-state-government/az-rev-st-sect-41-5607/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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