2011 Arizona Revised Statutes
Title 6 Banks and Financial Institutions
6-708 Denial; revocation or suspension of license

6-708. Denial; revocation or suspension of license

A. If the superintendent finds that the applicant fails to meet any of the conditions set forth in this article, he shall deny the application for a license. If an application is denied or withdrawn, the superintendent shall retain the investigation fee to cover the costs of investigating the applicant and return the license fee to the applicant.

B. The superintendent may revoke or suspend any license issued under this article for the following causes:

1. Conviction in any state of a felony or any crime involving breach of trust or dishonesty.

2. Violating any of the provisions of this article or rules of the department.

3. Fraud or deceit in procuring the issuance of the license.

4. Insolvency, filing in bankruptcy, receivership, or assigning for the benefit of creditors by any licensee or applicant for a license.

5. Failure to pay the annual license fee.

6. Entry of an order against the licensee by an administrative agency of this state, the federal government or any other state or territory of the United States that involves fraud, deceit or misrepresentation by the licensee and the facts relating to the order indicate that it would be contrary to the interests of the public to permit that person to be licensed or to control or manage a licensee.