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House Engrossed |
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State of Arizona House of Representatives Fifty-first Legislature First Regular Session 2013
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HOUSE BILL 2207 |
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AN ACT
amending section 32-1025, Arizona Revised Statutes; relating to collection agencies.
(TEXT OF BILL BEGINS ON NEXT PAGE)
Be it enacted by the Legislature of the State of Arizona:
Section 1. Section 32-1025, Arizona Revised Statutes, is amended to read:
32-1025. Annual renewal of license; suspension
A. Except as provided in section 32-4301, a person desiring to secure renewal of a collection agency license shall file a financial statement, make a renewal application to the department and pay the fees prescribed in section 6‑126 not later than January 1 of each year upon on forms prescribed by the superintendent setting forth verified information to assist the superintendent in determining whether or not the applicant is in default of or in violation of the terms of this chapter and whether the applicant is still meeting the requirements of this chapter. If the renewal applicant is unable to make a financial statement at the time of filing the application, the applicant may make a written request for an extension of time to file such financial report, and if the extension is granted the applicant shall file a financial statement within thirty days after the issuance of a renewal license no later than March 1.
B. A renewal license shall be issued February 1 each year upon application as provided in subsection A of this section.
B. Licenses that are not renewed by January 1 are suspended. A licensee may renew a suspended license by submitting to the department the fees prescribed in section 6-126 along with a renewal application and any applicable late fee, as may be determined by the superintendent by rule, before January 31. Licenses that are not renewed on or before January 31 expire.