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REFERENCE TITLE: technical correction; collection agencies; licenses |
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State of Arizona Senate Fifty-sixth Legislature First Regular Session 2023
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SB 1190 |
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Introduced by Senator Mesnard
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An Act
amending section 32-1027, Arizona Revised Statutes; relating to collection agencies.
(TEXT OF BILL BEGINS ON NEXT PAGE)
Be it enacted by the Legislature of the State of Arizona:
Section 1. Section 32-1027, Arizona Revised Statutes, is amended to read:
32-1027. Issuance of provisional license for limited purposes
In the event of on the death of an individual licensee, dissolution of a licensee partnership by death or operation of law, or termination of employment of the active manager if the licensee is a firm, partnership, association or corporation, if it is shown that the financial and bonding requirements of this chapter have been met, the deputy director shall issue without a fee a provisional license to the personal representative of the deceased or the deceased's personal representative's appointee, to the surviving partners, or to the firm, association or corporation, as the case may be, which shall be valid for the following purposes only and expire at the following times:
1. A provisional license issued to a personal representative or the personal representative's appointee shall expire one year from after the date of issuance and shall not be subject to renewal. Authority of the provisional licensee shall be limited to those activities deemed necessary to wind up the business of the former licensee.
2. Other provisional licenses shall expire three months after the date of issuance unless the provisional licensee within such period can qualify for a full license.