The Arizona Revised Statutes have been updated to include the revised sections from the 56th Legislature, 1st Regular Session. Please note that the next update of this compilation will not take place until after the conclusion of the 56th Legislature, 2nd Regular Session, which convenes in January 2024.
DISCLAIMER
This online version of the Arizona Revised Statutes is primarily maintained for legislative drafting purposes and reflects the version of law that is effective on January 1st of the year following the most recent legislative session. The official version of the Arizona Revised Statutes is published by Thomson Reuters.
A. At least thirty days before the end of the twenty-four-month regulatory sandbox testing period, a sandbox participant must either:
1. Notify the attorney general that the sandbox participant will exit the regulatory sandbox, wind down its test and cease offering any innovative products or services in the regulatory sandbox within sixty days after the twenty-four-month testing period ends.
2. Seek an extension pursuant to section 41-5608 to pursue a license or other authorization required by law.
B. If the attorney general does not receive notification pursuant to subsection A of this section, the regulatory sandbox testing period ends at the end of the twenty-four-month testing period and the sandbox participant must immediately cease offering innovative products or services.
C. If a test includes offering products or services that require ongoing duties, such as servicing a loan, the sandbox participant must continue to fulfill those duties or arrange for another person to fulfill those duties after the date the sandbox participant exits the regulatory sandbox.