Arizona Revised Statutes - Title 28 Transportation - Section 28-5005 Fees; bond
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28-5005. Fees; bond
(Rpld. 4/1/12)
A. The applicant shall submit a filing fee of fifteen dollars with the
application. Each licensee shall pay an annual license fee of ten dollars.
B. A bond in a form approved by the director and in an amount of at least
twenty-five thousand dollars as the director prescribes is required with an application.
The bond:
1. Shall be executed by a surety company authorized to transact business in this
state as a surety on the bond, with the applicant as principal obligor on the bond and
the state as obligee.
2. Shall be conditioned that the applicant will faithfully comply with all of the
provisions of law and that the bond is noncancellable without at least sixty days'
written notice to the director.
3. Inures to the benefit of a person who suffers loss because of any of the
following:
(a) Nonpayment by the company of any title fee, registration fee or other related
fee or tax paid to the company by that person.
(b) Insolvency.
(c) Discontinuance of business.
(d) Any unlawful act of the company.
Sections: 28-5001 28-5002 28-5003 28-5004 28-5005 28-5006 28-5007 28-5008 28-5009 28-5010 28-5011 28-5012 28-5013 28-5014
Last modified: February 20, 2012
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