Arizona Revised Statutes Title 6. Banks and Financial Institutions § 6-604. Issuance of license; license year; renewal; expiration; requirements

A. If the deputy director finds no grounds for denial of a license, within one hundred twenty days after receiving a complete application, the deputy director shall grant the application and issue a license to the applicant.

B. The license year for a licensee begins on July 1 and ends on June 30 of each year. A license that is issued pursuant to this chapter remains active until the license expires or the director suspends, revokes or terminates the license.

C. A licensee shall apply for renewal as prescribed by the deputy director and pay the renewal fee prescribed in § 6-126 not later than June 30 of each year. For each day after June 30 that the renewal application is not received by the deputy director, the applicant shall pay a $25 late fee in addition to the fee prescribed in § 6-126. If the deputy director does not receive the licensee's renewal application and fee on or before June 30, the licensee may not act as a consumer lender until the license is renewed or a new license is issued pursuant to this article. If the deputy director does not receive the licensee's renewal application and fee on or before July 31, the license automatically expires. The holder of an expired license may not be issued a renewal license but may be issued a new license as provided in this article.

D. A license remains the property of this state. On termination at the request of the licensee or revocation by the deputy director, the licensee shall immediately deliver the license to the deputy director. Termination of the license does not affect any other liability of the licensee.

E. The licensee shall designate the principal location of the licensed office within or outside this state. If a licensee wishes to maintain more than one office location the licensee shall first obtain a branch office license for each branch office from the deputy director. The licensee shall submit an application in the form prescribed by the deputy director and pay the fee prescribed in § 6-126 for each branch office license. If the deputy director determines that the applicant is qualified, the deputy director shall issue a branch office license indicating the address of the branch office.

F. A licensee shall prominently display the consumer lender license in the office of the consumer lender and any branch office license in that branch office.