6-1254 - Arizona Statutes

6-1254. Qualifications of applicants A. An applicant for a license: 1. Shall be a citizen of the United States. 2. Shall be a person of honesty, truthfulness and good moral character. 3. Shall not have been convicted of a crime that involves moral turpitude. 4. Shall not have defaulted on payment of money collected or received for another person. 5. Shall not have been a former licensee pursuant to this chapter whose license was suspended or revoked and not subsequently reinstated. B. If the applicant is a person other than a natural person, the qualifications required by subsection A are also required of any executive officer, director or partner of the firm, partnership or association. C. To qualify for a license an applicant shall have: 1. A minimum net worth in cash or cash equivalents, determined in accordance with generally accepted accounting principles, of at least fifty thousand dollars. 2. The financial responsibility, character and experience to warrant a belief that the business is operated lawfully, honestly, fairly and efficiently.