Arizona Revised Statutes § 6-1262 Violation; Classification; Individual Liability

6-1262. Violation; classification; individual liability

A. A person that provides deferred presentment services without a license is guilty of a class 1 misdemeanor.

B. A licensee that violates this chapter or the rules adopted pursuant to this chapter is subject to revocation of the licensee's license and is guilty of a class 1 misdemeanor.

C. An officer or agent of a corporation or association who participates in a violation of this chapter is subject to the penalties prescribed in this section.

D. Except as the result of an accidental or bona fide error, if the licensee charges, contracts for or receives any amount in excess of the fees expressly permitted by this chapter, the deferred presentment is voidable and the licensee has no right to collect or receive any fees in connection with the deferred presentment transaction. Any deferred presentment transaction that is made by a person who is required to be licensed pursuant to this chapter but who is not licensed is void, and the person has no right to collect, receive or retain any principal or other fees in connection with that deferred presentment transaction.

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Last modified: October 13, 2016