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Arizona Revised Statutes Title 6. Banks and Financial Institutions § 6-708. Denial; revocation or suspension of license

Current as of January 01, 2025 | Updated by Findlaw Staff

A. If the deputy director finds that the applicant fails to meet any of the conditions set forth in this article, the deputy director shall deny the application for a license. If an application is denied or withdrawn, the deputy director shall retain the investigation fee to cover the costs of investigating the applicant and return the license fee to the applicant.

B. The deputy director may revoke or suspend any license issued under this article for the following causes:

1. Conviction in any state of a felony or any crime involving breach of trust or dishonesty.

2. Violating any of the provisions of this article or rules of the department.

3. Fraud or deceit in procuring the issuance of the license.

4. Insolvency, filing in bankruptcy, receivership, or assigning for the benefit of creditors by any licensee or applicant for a license.

5. Failure to pay the annual license fee.

6. Entry of an order against the licensee by an administrative agency of this state, the federal government or any other state or territory of the United States that involves fraud, deceit or misrepresentation by the licensee and the facts relating to the order indicate that it would be contrary to the interests of the public to allow that person to be licensed or to control or manage a licensee.

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Cite this article: FindLaw.com - Arizona Revised Statutes Title 6. Banks and Financial Institutions § 6-708. Denial; revocation or suspension of license - last updated January 01, 2025 | https://codes.findlaw.com/az/title-6-banks-and-financial-institutions/az-rev-st-sect-6-708/

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