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2021 Arizona Revised Statutes
Title 6 - Banks and Financial Institutions
§ 6-838 - Surrender of license
Universal Citation:
AZ Rev Stat § 6-838 (2021)
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6-838. Surrender of license
A licensee that desires to surrender its license shall file with the deputy director a certified copy of the resolution of its board of directors or a verified statement of intent signifying this desire, and thereafter shall not accept additional escrow business. On receipt of the resolution or statement of intent, the deputy director shall make an investigation, and if the deputy director determines that the licensee has been discharged from all duties that it has undertaken as an escrow agent, the deputy director shall issue an order to the licensee certifying that it is no longer authorized to exercise the powers of an escrow agent and the licensee shall immediately surrender its license.
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