Arizona Revised Statutes § 6-135 Department Revolving Fund; Use Of Fund

6-135. Department revolving fund; use of fund

A. There is established a department revolving fund to be administered by the superintendent under the conditions and for the purposes provided by this section. Monies in the fund are exempt from the provisions of section 35-190, relating to the lapsing of appropriations.

B. Any investigative costs, attorney fees or civil penalties recovered for the state by the attorney general or the superintendent as a result of actions brought pursuant to this title, whether by final judgment, settlement or otherwise, shall be deposited in the department revolving fund. If the unencumbered portion of the fund exceeds two hundred thousand dollars at the end of the fiscal year, all unencumbered monies in excess of two hundred thousand dollars shall be deposited in the department receivership revolving fund, pursuant to section 6-135.01.

C. The monies in the fund shall be used by the superintendent and the attorney general for investigative proceedings or for purposes of instituting and prosecuting civil actions pursuant to this title.

D. On or before the fifteenth day of February, May, August and November, the superintendent shall file with the governor, with copies to the director of the department of administration, the president of the senate and the speaker of the house of representatives, a full and complete account of the receipts and disbursements from the fund in the previous calendar quarter.

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Last modified: October 13, 2016