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.
6-1232 - Authorized delegate suspension and revocation
6-1232. Authorized delegate suspension and revocation
A. The director may suspend or revoke the designation of an authorized delegate if the director finds that:
1. The authorized delegate violated this article.
2. The authorized delegate did not cooperate with an examination or investigation by the director.
3. The authorized delegate engaged in fraud, intentional misrepresentation or gross negligence.
4. The authorized delegate is convicted of a violation of a state or federal anti-money laundering statute.
5. The competence, experience, character or general fitness of the authorized delegate or a person in control of the authorized delegate indicates that it is not in the public interest to allow the authorized delegate to provide money transmission.
6. The authorized delegate is engaging in an unsafe or unsound practice. To determine whether an authorized delegate is engaging in an unsafe or unsound practice, the director may consider the size and condition of the authorized delegate's provision of money transmission, the magnitude of the loss, the gravity of the violation of this article and the previous conduct of the authorized delegate.
B. An authorized delegate may appeal a suspension or revocation pursuant to title 41, chapter 6, article 10.