23-527 - Arizona Statutes

23-527. Application for license; cash deposit or surety bond; deposit A. A person, firm, corporation or association desiring a license as employment agent shall make application for a license to the industrial commission, and shall accompany the application with a minimum cash deposit of one thousand dollars or surety bond in the amount determined by the commission, not to exceed five thousand dollars, conditioned that the agent will conform in all particulars to the requirements of law relating to the business of employment agent. The cash deposit or surety bond shall at all times be maintained at the minimum of one thousand dollars or the amount determined by the commission not to exceed five thousand dollars. B. Cash deposits received by the industrial commission pursuant to subsection A of this section shall be deposited as a separate account in the administrative fund established by section 23-1081. Monies in the separate account are continuously appropriated for the purposes provided.