44-1797.01 - Arizona Statutes

44-1797.01. Bond; amount; copy; conflict of interest Each discount buying organization shall maintain a bond in the principal sum of thirty thousand dollars for each outlet of such discount buying organization where contracts for discount buying services are sold or orders for goods are taken. The bond shall be executed by the discount buying organization as principal and issued by a surety company admitted to do business in this state according to the provisions of title 20, chapter 6, article 8. The organization shall file the bond with the state treasurer. No control or beneficial interest may be held by the discount buying organization in the surety company and vice versa.