2022 Arizona Revised Statutes
Title 6 - Banks and Financial Institutions
§ 6-1208 - Consistent licensure

6-1208. Consistent licensure

A. To establish consistent licensure between this state and other states, the director may do both of the following:

1. Implement all licensing provisions of this article in a manner that is consistent with other states that have adopted laws that are substantively similar to this article or multistate licensing processes.

2. Participate in nationwide protocols for licensing cooperation and coordination among state regulators if the protocols are consistent with this article.

B. The director may establish relationships or contracts with NMLS or other entities designated by NMLS to enable the director to do all of the following:

1. Collect and maintain records.

2. Coordinate multistate licensing processes and supervision processes.

3. Process fees.

4. Facilitate communication between this state and licensees or other persons subject to this article.

C. The director may use NMLS for all aspects of licensure pursuant to this article, including license applications, applications for acquisitions of control, surety bonds, reporting, criminal history background checks, credit checks, fee processing and examinations.

D. The director may use NMLS forms, processes and functionalities pursuant to this article. If NMLS does not provide functionality, forms or processes for a provision of this article, the director may strive to implement the requirements in a manner that facilitates uniformity with respect to licensing, supervision, reporting and regulation of licensees that are licensed in multiple jurisdictions.

E. For the purpose of participating in NMLS, the director may waive or modify, in whole or in part, by rule or order, any or all of the requirements and establish new requirements as reasonably necessary to participate in NMLS.