6-605 - Arizona Statutes

6-605. Denial of renewal; suspension; revocation A. The superintendent may deny renewal of a license or suspend or revoke a license if the superintendent finds that a licensee: 1. Is insolvent as defined in section 47-1201. 2. Has shown that the licensee is not a person of honesty, truthfulness and good character. 3. Has failed to pay the annual renewal fees. 4. Has failed to file an annual report when due or within any extension of time granted by the superintendent for good cause. 5. Has failed to have or maintain at least twenty-five thousand dollars in assets used or readily available for use in the conduct of the business of each licensed office and branch office. 6. Either knowingly or without the exercise of due care to prevent a violation, has violated any provision of this title or any rule or order adopted or made pursuant to this title. 7. Has failed to operate the business of making consumer lender loans for a continuous period of twelve months or more, except that the superintendent, on good cause shown, may extend the time for operating that business for a single fixed period of not more than twelve months. B. The superintendent may also deny renewal of a license or suspend or revoke a license if the superintendent finds that any fact or condition exists that, if it had existed at the time of the original application for the license, would have clearly warranted the superintendent to refuse to issue the license.