Arizona Revised Statutes Title 6. Banks and Financial Institutions § 6-1404. Denial, suspension or revocation of licenses and branch office permits

A. The deputy director may deny a license to a person or suspend or revoke a license if the deputy director finds that an applicant or licensee:

B. If any person to whom a license is issued or who has applied for a license is indicted or informed against for forgery, embezzlement, obtaining money under false pretenses, extortion, criminal conspiracy to defraud, or a like offense or offenses and a certified copy of the indictment or information or other proper evidence of that indictment or information is filed with the deputy director, the deputy director may suspend the license issued to the licensee or refuse to grant a license to an applicant pending trial on the indictment or information.

C. It is sufficient cause for the suspension or revocation of the license if an owner, officer, director, member, partner, trustee or employee, while acting in the course of the premium finance business, or a person who is entitled to vote more than twenty percent of the outstanding voting shares of the licensed corporation or a person who has a controlling interest in a licensed limited liability company, partnership, association or trust has acted or failed to act in the same manner as would be cause for suspending or revoking a license of the person to whom the license was issued.

D. The deputy director may deny a branch office permit to a person or suspend or revoke a branch office permit for the same reasons sufficient under this section for denial, suspension or revocation of a license.