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REFERENCE TITLE: annual report; licensee; filing extension |
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State of Arizona House of Representatives Fifty-second Legislature First Regular Session 2015
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HB 2416 |
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Introduced by Representative Stevens
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AN ACT
amending section 6-608, Arizona Revised Statutes; relating to consumer lenders.
(TEXT OF BILL BEGINS ON NEXT PAGE)
Be it enacted by the Legislature of the State of Arizona:
Section 1. Section 6-608, Arizona Revised Statutes, is amended to read:
6-608. Annual report of licensee; civil penalty for failure to file
A. On or before October 1 of each year, the licensee shall file a report under oath and in the form prescribed by the superintendent concerning the business and operations during the twelve‑month period ending the preceding June 30. On good cause shown by a licensee, the superintendent may extend the time for filing the report for a period of not more than sixty seventy days.
B. If a licensee fails to file the annual report, the superintendent or any person designated by the superintendent may examine the books, accounts and records of the licensee, prepare the annual report and charge the licensee an examination fee as prescribed in section 6‑125.
C. If a licensee fails to file the annual report within the specified time, the superintendent may assess a civil penalty for the failure to file the annual report unless an extension of time is granted by the superintendent in writing before the due date of the annual report. The superintendent shall not assess a penalty of more than five dollars per day. The licensee shall pay the penalty to the superintendent within thirty days of the assessment.