6-846.04 - Arizona Statutes

6-846.04. Deviations in escrow rates; civil penalty A. An escrow agent may not deviate from his escrow rates that are in effect pursuant to section 6-846.01. B. If the superintendent finds that an escrow rate has been charged that deviates from the escrow rate in effect pursuant to section 6-846.01, the escrow agent may be subject to a penalty that is equal to the difference between the rate charged and the allowable rate in effect pursuant to section 6-846.01. C. If the superintendent finds that an escrow agent knowingly or with such frequency as to indicate a general business practice violated subsection A of this section with respect to a particular provision of the applicable escrow rate, the superintendent, in addition to the penalty imposed under subsection B of this section, may: 1. For each violation, impose an additional penalty of not more than two times the penalty imposed under subsection B of this section. 2. Revoke the escrow agent's license. D. In addition to penalties imposed under subsection B or C of this section, the superintendent may impose civil penalties pursuant to section 6-132 if the superintendent finds that an escrow agent knowingly violated subsection A of this section with respect to a particular provision of the applicable escrow rate by charging rates that are greater than the rates allowable pursuant to section 6-846.01.