This Registration is required of any person who for an advance fee or in the expectation of an advance fee, either directly or indirectly, makes procures, offers, or attempts to make or procure a loan of money or extension of credit.
Who is exempt from this Registration? Please review A.R.S. §6-1302.
Inquiries concerning the preparation and filing of License and renewal applications with the Department should be directed to the Licensing Division at 602-771-2800 or e-mail at [email protected] .
Application Fees and Forms for Advance Fee Loan Brokers
Arizona Revised Statues §6-126 et seq & §6-1304
|
DESCRIPTION |
FEES |
FORMS |
|---|---|---|
|
New Application |
50.00 + License Fee (based upon submission date): Jan, Feb, Mar: $12.50 April, May, June: $31.25* July, Aug, Sept: $25.00 Oct, Nov, Dec: $18.75 Fees are nonrefundable. *Fee includes the following year renewal fee. |
|
|
License Renewal |
$25.00 Fee is nonrefundable. |
|
| Address Change | No Fee | |
| Name Change |
$250.00 | |
| Change of Control/Ownership change (“COC”) | No Fee | |
| Officer Change | No Fee | |
|
License Surrender
|
No Fee | |
| Duplicate Registration |
No Fee |
Arizona Revised Statutes
Article General Provisions
6-1301 Definitions
6-1302 Scope of chapter; exemptions
6-1303 Application for registration
6-1304 Fees
6-1305 Registration; renewal; reporting requirements
6-1306 Register of advance fee loan brokers
6-1307 Records
6-1308 Denial, revocation or suspension of registration
6-1309 Prohibited acts
6-1310 Noncompliance not to affect validity of loan
Arizona Administrative Code Title 20
N/A
Substantive Policy Statements
ARTICLE 1 - General Administration
APPLICATIONS GE-1
CREDIT REPORTS/ARREST RECORDS GE-3
It is the policy of AZDFI to select the most effective and efficient methods of conducting examinations so that significant risks affecting safety and soundness, as well as substantive statutory compliance, can be identified and, if necessary, appropriate supervisory action taken. Judgment must be utilized to ensure that necessary procedures are performed and ineffective activities are avoided.
The examination fee in accordance with A.R.S. §6-125 is not more than sixty-five dollars per hour for each examiner. The assessment late penalty is fifty dollars for each day after the thirty day period the enterprise fails to remit the assessment not to exceed the examination assessment amount.
Pursuant to A.R.S. 6-122(3) examination frequency is at the Superintendent’s discretion
For questions concerning examination of your company or license, please contact the Financial Enterprise Division at 602-771-2800 or e-mail to [email protected].
Note: Companies holding these license types are encouraged to submit a license transition request through NMLS by filing a Company Form (MU1) and an Individual Form (MU2) for each of their control persons. Additionally, for each branch holding these license types, companies are encouraged to complete and submit a Branch Form (MU3). Click here for more information.
This Registration is required of any person who for an advance fee or in the expectation of an advance fee, either directly or indirectly, makes procures, offers, or attempts to make or procure a loan of money or extension of credit.
Who is exempt from this Registration? Please review A.R.S. §6-1302
Company LicensesDescriptionRequirements Checklist
Advance Fee Loan Broker LicenseThis license will become available in NMLS starting July 1st, 2017. This Registration is required of any person who for an advance fee or in the expectation of an advance fee, either directly or indirectly, makes procures, offers, or attempts to make or procure a loan of money or extension of credit. Please review A.R.S. § 6-1301
ARS § 41-1030(G) requires most Arizona government agencies to prominently print the provisions of ARS § 41-1030(B), (D), (E) and (F) on all license applications. The following is the language in ARS § 41-1030(B), (D), (E) and (F):
B. An agency shall not base a licensing decision in whole or in part on a licensing requirement or condition that is not specifically authorized by statute, rule or state tribal gaming compact. A general grant of authority in statute does not constitute a basis for imposing a licensing requirement or condition unless a rule is made pursuant to that general grant of authority that specifically authorizes the requirement or condition.
D. This section may be enforced in a private civil action and relief may be awarded against the state. The court may award reasonable attorney fees, damages and all fees associated with the license application to a party that prevails in an action against the state for a violation of this section.
E. A state employee may not intentionally or knowingly violate this section. A violation of this section is cause for disciplinary action or dismissal pursuant to the agency’s adopted personnel policy.
F. This section does not abrogate the immunity provided by section 12-820.01 or 12-820.02.