A.R.S. § 6-707: Debt Management License
Issuance of license; display; renewal
How does Arizona issue a debt management company license?
In Arizona, once the application, fees, and bond are in, the deputy director investigates and issues a debt management company license if the applicant's finances and experience show the business will be run fairly and honestly. The license must be posted conspicuously in the business office and cannot be transferred or assigned. Licenses expire on December 31 after issuance unless surrendered, revoked, or suspended sooner, and they can be renewed by applying on or before December 31 each year.
Full statute text
Official text last checked against azleg.gov:
6-707. Issuance of license; display; renewal
A. On the filing of the application and the payment of the fees and the approval of the bond, or bonds, the deputy director shall investigate the facts, and if the deputy director finds that the financial responsibility and experience of the applicant are such as to command the confidence of the community to warrant belief that the business will be operated fairly and honestly and within the purposes of this article, the deputy director shall issue the applicant a license to do business as a debt management company.
B. The license shall be kept conspicuously posted in the business office of the licensee. The license is not transferable or assignable.
C. Licenses expire on December 31 following the date of the issuance unless sooner surrendered, revoked or suspended but may be renewed by filing an application with the deputy director on or before December 31 each year. The application for renewal shall be in the form prescribed by the deputy director and shall be accompanied by the fee prescribed in section 6-126. A separate application shall be made for each initial license of a principal place of business, agency or branch office.
Drafted by AI from the official text and checked sentence by sentence against azleg.gov. ClearStatute is run by David Bartlett, who is not an attorney. Legal information, not legal advice — consult a licensed attorney for your situation.