This license is required of any person that advertises to make or procure, solicits, or holds themselves out as willing to make or procure or makes or procures a loan of $10,000 or less or a revolving loan of not more than $10,000.
Who is exempt from this License? Please review A.R.S. §6- 602.
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 Consumer Lenders
Arizona Revised Statues §6-126 et seq.
The following nonrefundable fees are payable to AZDFI with the filing of the following applications:
| DESCRIPTION | FEES | FORMS |
|---|---|---|
| New Application |
$1,000.00 + License Fee (based upon submission date): Jan, Feb, Mar: $500.00 April, May, June: $1,250.00* July, Aug, Sept: $1,000.00 Oct, Nov, Dec: $750.00 Fees are nonrefundable. *Fee includes the following year renewal fee.$1,000.00 |
|
| Branch Office Application |
$500.00 + License Fee (based upon submission date): Jan, Feb, Mar: $100.00 April, May, June: $250.00* July, Aug, Sept: $200.00 Oct, Nov, Dec: $150.00 Fees are nonrefundable. *Fee includes the following year renewal fee. |
|
|
License Renewal License Year: 07/01 - 06/30 |
$1,000.00 HO |
|
| Address Change | No Fee | |
| Name Change |
$250.00 | |
| Change of Control/Ownership change (“COC”) | $0.00 | |
| Officer Change | $0.00 | |
| License Certificate |
No Fee | |
| License Surrender |
$0.00 |
|
| DESCRIPTION | FORMS | |
|---|---|---|
| Consumer Lender Standard Rate of Charge Report (A.R.S. §6-609) | ||
| Consumer Lender Annual Report (A.R.S. §6-608) |
|
Arizona Revised Statutes
Article 1 General Provisions
6-601 Definitions
6-602 Exemptions
6-603 License; contents of application; fees; nontransferable
6-604 Issuance of license; license year; requirements
6-605 Denial of renewal; suspension; revocation
6-606 Business limited to licensed locations; restrictions
6-607 Books; accounts; records; access
6-608 Annual report of licensee; civil penalty for failure to
6-609 Reporting rates; change in rates; quarterly report of s
6-610 Effect of revocation, suspension or surrender on preexi
6-611 Prohibited acts
6-612 Rules
6-613 Restrictions; voidable loans
6-614 Noncompliance
6-615 Foreign loans; reciprocity
Article 2 Requirements for Consumer Lender Loans
6-631 Disclosures; penalty
6-632 Finance charges
6-633 Computation of finance charges
6-634 Precomputation of consumer loan
6-635 Other allowable fees; annual reporting
6-636 Insurance securing loan; cancellation; notice
6-637 Term; payments
6-638 Other insurance
6-639 Loans from theft or fraud; consumer not responsible; cor
Arizona Administrative Code Title 20
ARTICLE 5. CONSUMER LENDERS
Section
R20-4-503. Adjustments in Precomputed Charges
R20-4-508. Cut-off Date for Computing Refunds upon Early Repayment in Full
R20-4-518. Deferral Fee
R20-4-519. Deferment Statement
R20-4-524. Books, Accounts, and Records
R20-4-534. Insurance
Substantive Policy Statements
ARTICLE 6. CONSUMER LENDERS
SALE OF INSURANCE CL-1
DUAL LICENSES CL-2
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 license is required of any person that advertises to make or procure, solicits, or holds themselves out as willing to make or procure or makes or procures a loan of $10,000 or less or a revolving loan of not more than $10,000.
Who is exempt from this License? Please review A.R.S. §6- 602.
Company Licenses Description Requirements Checklist
Consumer Lender License
See Arizona Revised Statutes Title 6, Chapter 5 –
Consumer Lender for more information about who is required to have this license. (More Details)
Branch Licenses Description Requirements Checklist
Consumer Lender Branch License
See Arizona Revised Statutes Title 6, Chapter 5 –
Consumer Lender for more information about who is required to have this license. (More Details)
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.