A.R.S. § 44-1843 — Arizona Code / Title 44 / Chapter 12 / Article 4 / Section 1843
44-1843 Exempt securities; fee; filing
Status: in_force

44-1843. Exempt securities; fee; filing

A. Sections 44-1841 and 44-1842, section 44-1843.02, subsections B and C and sections 44-3321 and 44-3325 do not apply to any of the following classes of securities:

1. Securities issued or guaranteed by the United States, by any state, territory or insular possession of the United States, by any political subdivision of such state, territory or insular possession, by the District of Columbia or by any agency or instrumentality of one or more of any of the foregoing.  This exemption shall not apply to securities regulated pursuant to section 44-1843.01.

2. Securities issued by a national bank, a bank or a credit or loan association organized pursuant to an act of Congress and supervised by the United States or an agency of the United States, or issued by a state bank or savings institution the business of which is supervised and regulated by an agency of this state or of the United States.

3. Securities issued by a savings and loan association subject to supervision by an agency of this state.

4. Insurance or endowment policies, variable contracts, annuity contracts or optional annuity contracts issued by a person subject to the supervision of and licensed by the insurance commissioner, the bank commissioner or any agency of the United States, any state or the District of Columbia performing like functions.

5. Securities issued or guaranteed either as to principal, interest or dividend by a railroad or public utility if the issuance of its securities is regulated by an agency of the United States, a state, territory or insular possession of the United States, an agency of the District of Columbia or an agency of the Dominion of Canada or any province of the Dominion of Canada, and also equipment trust certificates in respect to equipment conditionally sold or leased to a railroad or public utility, if other securities issued by such railroad or public utility would be exempt under this paragraph.

6. Securities issued by a person that is organized and operated exclusively for religious, educational, benevolent, fraternal, charitable or reformatory purposes and not for pecuniary profit, and no part of the net earnings of which inures to the benefit of any person, private stockholder or individual and securities issued by or any interest or participation in any pooled income fund, collective trust fund, collective investment fund or similar fund that is excluded from the definition of an investment company under section 3(c)(10)(B) of the investment company act of 1940. The exemption prescribed in this paragraph does not apply to any of the following, unless excluded from the definition of an investment company under section 3(c)(10)(B) of the investment company act of 1940:

(a) Securities made liens upon revenue producing property subject to taxation.

(b) Securities issued by a nonprofit organization that is engaged in, intends to engage in, controls, finances or lends funds or property to other entities engaged in the construction, operation, maintenance or management of a hospital, sanitarium, rest home, clinic, medical hotel, mortuary, cemetery, mausoleum or other similar facilities.

(c) Interest bearing or noninterest bearing debt securities except for first mortgage bonds issued by individual churches and affiliated religious schools in an aggregate outstanding amount not to exceed twenty-five million dollars by any one single issuer provided that no commission or remuneration of any kind, other than transfer agent's fees, is paid, directly or indirectly, to any person other than a registered dealer or registered salesman in connection with the offer for sale or sale of such bonds.

(d) Securities whose terms include significant features that are common to debt securities and that the commission finds are the functional equivalent of debt securities.

7. Securities listed or approved for listing upon the issuance thereof upon the New York stock exchange, the American stock exchange, the midwest stock exchange or any other national securities exchange that is registered under the securities exchange act of 1934 and that is designated by the commission as provided in this paragraph, and securities designated or approved for designation on notice of issuance on the national market system of a national securities association registered under the securities exchange act of 1934, and all securities senior or equal in rank to any securities so listed or approved for listing, designated or approved for designation or represented by subscription rights or warrants that have been so listed, designated or approved and any warrant or right to purchase or subscribe to any of the foregoing.  In addition to the securities exchanges prescribed in this paragraph, the commission may by order designate any registered national securities exchange if it finds that it would be in the public interest for securities listed on the exchange to be exempt.  The commission may at any time by order withdraw a designation of an exchange or association made under this paragraph.

8. Commercial paper that arises out of a current transaction or the proceeds of which have been or are to be used for current transactions, that evidences an obligation to pay cash within nine months of the date of issuance or sale, exclusive of days of grace, or any renewal of such paper that is likewise limited, or any guarantee of such paper or of any such renewal.

9. Securities issued or guaranteed by any foreign government with which the United States is at the time of the sale maintaining diplomatic relations, or securities issued or guaranteed by a political subdivision of such foreign government having the power of taxation, if none of the securities of the foreign government or political subdivision are in default either as to principal or interest, and which securities when offered for sale in this state are acknowledged as valid obligations by the foreign government or political subdivision and registered under the securities act of 1933.

10. Notes or bonds secured by a mortgage or deed of trust on real estate or chattels, or a contract or agreement for the sale of real estate or chattels, if the entire mortgage, contract or agreement together with all notes or bonds secured thereby is sold or offered for sale as a unit, except for real property investment contracts.

11. Mortgage related securities, as defined in section 3(a)(41) of the securities exchange act of 1934.

B. Issuers of securities that are exempt under subsection A, paragraphs 6, 7 and 9 of this section, within thirty days after the first sale of the securities in this state, shall pay to the commission a fee of two hundred dollars for each offering, and the commission shall deposit the fees in the office of economic opportunity operations fund established by section 41-5302.

C. Any securities that are offered and sold pursuant to section 4(5) of the securities act of 1933 or that are mortgage related securities as the term is defined in section 3(a)(41) of the securities exchange act of 1934 are not preempted by federal law.  These instruments, commonly referred to as private mortgage backed securities, may be exempt from the registration requirements of this chapter if the transaction or the securities are otherwise exempt under this chapter.  This subsection specifically overrides the preemption of state law contained in section 106(c) of the secondary mortgage market enhancement act of 1984 (P.L. 98-440).

D. Noncompliance with the requirements in subsection B of this section to pay fees shall not result in the loss of the exemption allowed by this section.
A.R.S. § 44-1035 — Arizona Code / Title 44 / Chapter 8 / Article 3 / Section 1035
44-1035 Notice of appointment of assignee; publication
Status: in_force

44-1035. Notice of appointment of assignee; publication

The assignee shall, within thirty days after recording the assignment, give public notice of his appointment in some newspaper printed in the county where the assignor resides or where his principal business was conducted, and as far as possible, the assignee shall also give personal notice or notice by mail to each of the creditors.
A.R.S. § 44-8004 — Arizona Code / Title 44 / Chapter 39 / Article 1 / Section 8004
44-8004 Enforcement; violation; civil penalty; damages; costs; attorney fees
Status: in_force

44-8004. Enforcement; violation; civil penalty; damages; costs; attorney fees

The attorney general may bring an action to enforce this chapter.  A person who violates this chapter is subject to:

1. A civil penalty of up to $2,500 for each violation.

2. The payment of actual damages incurred by consumers as a result of the violation.

3. Costs and reasonable attorney fees incurred by the office of the attorney general.
A.R.S. § 44-1702 — Arizona Code / Title 44 / Chapter 11 / Article 7 / Section 1702
44-1702 Exemptions
Status: in_force

44-1702. Exemptions

This article does not apply to:

1. A person who is organized, chartered or holding a license or authorization certificate to make loans or extensions of credit pursuant to the laws of this state or the United States and who is subject to regulation and supervision by an official or agency of this state or the United States.

2. A bank or savings and loan institution whose deposits or accounts are eligible for insurance by the federal deposit insurance corporation or the federal savings and loan insurance corporation.

3. A person licensed as a real estate broker by this state if the person is acting within the course and scope of that license.

4. A person licensed to practice law in this state if the person renders services within the course and scope of his practice as an attorney at law.

5. A broker-dealer registered with the securities and exchange commission or the commodity futures trading commission if the broker-dealer is acting within the course and scope of such regulation.

6. Any nonprofit organization exempt from taxation under section 501(c)(3) of the internal revenue code.
A.R.S. § 44-1447 — Arizona Code / Title 44 / Chapter 10 / Article 3 / Section 1447
44-1447 Records
Status: in_force

44-1447. Records

The secretary of state shall keep for public examination a record of all marks registered or renewed under this article.
A.R.S. § 44-340 — Arizona Code / Title 44 / Chapter 3 / Article 1 / Section 340
44-340 Auditor contingent fee contracts; notice of rights
Status: in_force

44-340. Auditor contingent fee contracts; notice of rights

Audits for enforcement of the provisions of this article, including those performed by contingent fee auditors, shall provide holders of unclaimed property a notice of rights.  At a minimum, the notice shall include:

1. A statement that the department makes all final decisions regarding recommendations by a contingent fee auditor that any unclaimed property is reportable.

2. Information on corrections and appeals procedures.

3. Where to file complaints of improper, abusive or inefficient service by employees or contingent fee auditors of the department.

4. Contact information of the department's designated employees.
A.R.S. § 44-1376.04 — Arizona Code / Title 44 / Chapter 9 / Article 20 / Section 1376.04
44-1376.04 Civil causes of action
Status: in_force

44-1376.04. Civil causes of action

A. In a civil action, a customer whose communication service records, telephone records or public utility records were procured, sold or received in violation of this article may recover from the person that committed the violation the following relief:

1. Preliminary and other equitable or declaratory relief as may be appropriate.

2. Damages equal to the sum of the actual damages suffered by the plaintiff and any profits made by the violator as a result of the violation but in no case shall a person entitled to recover receive less than one thousand dollars.

3. Reasonable attorney fees and other litigation costs that are reasonably incurred.

B. A civil action under this section may not be commenced more than two years after the date on which the claimant first discovered or had a reasonable opportunity to discover the violation.
A.R.S. § 44-1325 — Arizona Code / Title 44 / Chapter 9 / Article 9 / Section 1325
44-1325 Used automotive components dealers; records of purchase; age requirement for lead acid battery seller
Status: in_force

44-1325. Used automotive components dealers; records of purchase; age requirement for lead acid battery seller

A. Every used automotive components dealer shall keep on the business premises a book or other similar record legibly printed or written in ink and in English of each transaction involving the receipt of two or more lead acid batteries, except if the batteries are a component of a vehicle being purchased.  The record of each receipt of lead acid batteries shall include the following information:

1. The date, time and place of the transaction.

2. A photograph and an identifying description of the specific lead acid batteries received.

3. The dollar amount of the transaction.

4. The seller's name, physical description, including gender, height, weight, race and eye and hair color, physical address, date of birth and signature and a photocopy of a current driver license, nonoperating identification license issued pursuant to section 28-3165 or photo identification card issued by a tribal government or the United States military.  The used automotive components dealer must validate the recorded information by using the seller's current driver license, nonoperating identification license issued pursuant to section 28-3165 or photo identification card issued by a tribal government or the United States military.

5. The seller's transaction privilege tax number, if applicable.

6. The number and state of issuance of the license on the vehicle used to deliver the lead acid battery.

7. A photograph, video record or digital record of the seller involved in the transaction.

8. A right index fingerprint of the seller.

B. The record and entries shall be retained in a book or similar record at the business premises for one year after making the final entry of any transaction and shall be retained either at the business premises or any other reasonably available location for an additional year. A used automotive components dealer shall not purchase lead acid batteries for which a record is required to be kept by this section in a series of purchases involving less than two batteries to avoid the requirements of this section. A used automotive components dealer's business premises, business records relating to lead acid battery transactions, including a book or similar record prescribed by this section, and business inventory shall be open during regular business hours for reasonable inspection by a peace officer. Before an inspection occurs a peace officer shall identify who the peace officer is and the purpose for the inspection to the used automotive components dealer, the used automotive components dealer's manager or another responsible person and comply with all reasonable and customary safety requirements of that used automotive components dealer for the business premises inspected. The used automotive components dealer may require the peace officer to sign an inspection log that includes the officer's name and serial or badge number and the time, the date and the purpose for the inspection.

C. A used automotive components dealer shall not provide payment for any lead acid batteries on site at the time of the lead acid battery transaction.  Payment shall be made by mailing a check or money order to a physical address provided by the seller through a current driver license or other identification prescribed in subsection A, paragraph 4 of this section. The check or money order shall be made payable to the business name for an industrial account.  This subsection:

1. Except as provided in paragraph 2 of this subsection, applies to all lead acid battery transactions of three hundred dollars or more.

2. Does not apply to industrial accounts if the industrial accounts annually preregister employees who are authorized sellers on behalf of the industrial accounts.

D. A used automotive components dealer shall provide a receipt to the seller on site at the time of the lead acid battery transaction, for every transaction, and shall include the following information:

1. The date, time and place of the transaction.

2. An identifying description of the specific lead acid battery received.

3. The dollar amount of the transaction.

E. A used automotive components dealer may not conduct a series of transactions for lead acid batteries to avoid the requirements of this section.

F. An individual who is a lead acid battery seller shall not participate in more than one cash transaction per day for lead acid batteries.

G. An individual who is a lead acid battery seller shall be at least sixteen years of age.
A.R.S. § 44-1821 — Arizona Code / Title 44 / Chapter 12 / Article 3 / Section 1821
44-1821 General rule-making power of commission; delegation of authority; limitation
Status: in_force

44-1821. General rule-making power of commission; delegation of authority; limitation

A. The commission may from time to time make, amend and rescind rules and regulations reasonably necessary to carry out the provisions of this chapter.

B. The commission may from time to time in its discretion delegate such authority to the director of securities as is convenient or necessary to the efficient administration of this chapter, except that the commission may not delegate authority to adopt, amend or rescind rules and regulations or to enter any final order of denial or revocation of registration of securities, dealers or salesmen.
A.R.S. § 44-1795 — Arizona Code / Title 44 / Chapter 11 / Article 13 / Section 1795
44-1795 Installment payments
Status: in_force

44-1795. Installment payments

A. A health spa may charge and accept a down payment not to exceed five per cent of the total contract price prior to opening of the health spa facility unless the seller maintains the same or similar facilities and services within ten miles of the customer's residence which the customer may use at no additional charge. A health spa shall not charge or accept a down payment which exceeds twenty per cent of the total contract price. However, if such health spa has been in operation in Arizona for a period of two years or more and if the customer makes a written request to the health spa, the customer may make a payment of up to one hundred per cent at the time of signing the contract. The customer shall receive a copy of the written request.

B. The balance of the total contract price shall be payable in equal periodic payments extending over the full term of the contract.
A.R.S. § 44-1378.02 — Arizona Code / Title 44 / Chapter 9 / Article 22 / Section 1378.02
44-1378.02 Prohibited acts
Status: in_force

44-1378.02. Prohibited acts

A foreclosure consultant shall not:

1. Claim, demand, charge, collect or receive any compensation until after the foreclosure consultant has fully performed each covered service that the foreclosure consultant contracted to perform or represented that the foreclosure consultant would perform.

2. Claim, demand, charge, collect or receive any fee, interest or other compensation for any reason that is not fully disclosed to the homeowner.

3. Take any wage assignment, lien on real or personal property, assignment of a homeowner's equity or other interest in a residence in foreclosure or other security for the payment of compensation.

4. Receive any consideration from any third party in connection with a covered service provided to a homeowner unless the consideration is first fully disclosed to the homeowner.

5. Acquire, directly or indirectly, any interest in the residence in foreclosure of a homeowner with whom the foreclosure consultant has contracted to perform a covered service.

6. Accept a power of attorney from a homeowner for any purpose, other than to inspect documents as provided by law.
A.R.S. § 44-3155 — Arizona Code / Title 44 / Chapter 13 / Article 4 / Section 3155
44-3155 Investment adviser license; notification
Status: in_force

44-3155. Investment adviser license; notification

A. If an applicant for licensure as an investment adviser fully complies with this article and commission rules adopted under this article, the director shall license the applicant as an investment adviser, unless the commission finds cause for denial as provided in article 6 of this chapter.

B. After the director has licensed an applicant as an investment adviser or has received a complete notice filing from a federal covered adviser, the director shall promptly notify the applicant or the federal covered adviser through the IARD, by mail or by any other method that is reasonably acceptable to the commission.
A.R.S. § 44-6811 — Arizona Code / Title 44 / Chapter 22 / Article 1 / Section 6811
44-6811 Enforcement; penalties
Status: in_force

44-6811. Enforcement; penalties

A. A lessor who fails to comply with the requirements of this chapter is liable to the consumer damaged by the lessor's failure to comply:

1. In an amount equal to the greater of either:

(a) The actual damages sustained by the consumer as a result of the lessor's failure to comply with this chapter.

(b) Twenty-five per cent of the total of payments necessary to acquire ownership, but at least one hundred dollars and not more than one thousand dollars.

2. For court costs and expenses and reasonable attorney fees as determined by the court.

B. A consumer shall not take any action to offset the amount for which a lessor is potentially liable under subsection A against any amount owed by the consumer, unless the amount of the lessor's liability has been determined by judgment in an action in which the lessor was a party. This subsection does not bar a consumer in default on an obligation from asserting a violation of this chapter as an original action or as a defense or counterclaim to an action brought by a lessor against the consumer.

C. The rights and remedies prescribed under this section are cumulative with any other rights or remedies available in this state.

D. A consumer or lessor shall not bring an action under this chapter more than two years after the date the consumer made the consumer's last rental payment or more than two years after the date of the occurrence of the violation that is the subject of the suit, whichever is later.

E. A violation of this chapter constitutes an unlawful practice under section 44-1522. The attorney general may investigate and take appropriate action as prescribed by chapter 10, article 7 of this title.
A.R.S. § 44-3159 — Arizona Code / Title 44 / Chapter 13 / Article 4 / Section 3159
44-3159 Reporting requirements
Status: in_force

44-3159. Reporting requirements

A. In order to retain licensure, licensed investment advisers and investment adviser representatives shall file the following with the commission through the IARD:

1. A supplemental statement showing any material changes in the facts contained in the original application for licensure as supplemented or amended as the changes occur or within thirty days after the change.

2. If a licensed investment adviser requires payment of advisory fees six months or more in advance and in excess of five hundred dollars for each client, an audited balance sheet as of the end of the investment adviser's fiscal year.  Each balance sheet shall be:

(a) Prepared in conformity with generally accepted accounting principles and examined in accordance with generally accepted auditing standards.

(b) Audited by an independent certified public accountant.

(c) Accompanied by an opinion of the independent certified public accountant as to the report of financial position, and by a note stating the principles used to prepare the report, the basis of included securities and any other explanations required for clarity.

B. If the IARD does not provide for receipt of a filing, the filing may be made with the commission by mail or any other reasonable method that is acceptable to the commission.

C. The financial statements prescribed in subsection A shall be filed with the commission within ninety days after the end of the investment adviser's fiscal year.

D. Any licensed investment adviser that has its principal place of business in another state is exempt from the requirements prescribed in subsection A if all of the following apply:

1. The investment adviser is registered as an investment adviser with the state in which it maintains its principal place of business.

2. The investment adviser has complied with the financial reporting requirements, if any, of the state in which it maintains its principal place of business.

3. If prescribed by the commission, the investment adviser files with the commission a copy of the financial reports it files with the state in which it maintains its principal place of business.
A.R.S. § 44-1791 — Arizona Code / Title 44 / Chapter 11 / Article 13 / Section 1791
44-1791 Definitions
Status: in_force

44-1791. Definitions

In this article, unless the context otherwise requires:

1. "Contract for health spa services" means a contract for membership in any health spa or for instruction, training, assistance or use of facilities primarily for physical exercise, weight control or figure development.

2. "Health spa" means an establishment which provides as its primary purpose services or facilities which are purported to assist patrons in physical exercise, weight control or figure development.

3. "Operating day" means any calendar day on which patrons may inspect and use the facilities and services of the health spa during a period of at least eight hours.
A.R.S. § 44-6701 — Arizona Code / Title 44 / Chapter 20 / Article 1 / Section 6701
44-6701 Definitions
Status: in_force

44-6701. Definitions

In this chapter, unless the context otherwise requires:

1. "Dealer agreement" means an oral or written contract or agreement of definite or indefinite duration between a supplier and an equipment dealer that prescribes the rights and obligations of each party with respect to the purchase or sale of equipment.

2. "Equipment" means machines designed for or adapted and used for agriculture, livestock, grazing, light industrial and utility purposes. Equipment does not include earthmoving and heavy construction equipment, mining equipment or forestry equipment.

3. "Equipment dealer" or "dealer" means any person, partnership, corporation, association or other form of business enterprise that is primarily engaged in the retail sale of equipment.

4. "Net cost" means the price the equipment dealer pays to the supplier for equipment, including the freight costs from the supplier's location to the equipment dealer's location, minus all applicable discounts allowed by the supplier.

5. "Net price" means the price listed for repair parts in the supplier's price list or catalog minus all applicable discounts allowed by the supplier.

6. "Supplier" means any person, partnership, corporation, association or other business enterprise that is engaged in the manufacturing, assembly or wholesale distribution of equipment or repair parts, or both, and includes any successor in interest, including a purchaser of assets or stock, or a surviving corporation that results from a merger, liquidation or reorganization of the original supplier.
A.R.S. § 44-1407 — Arizona Code / Title 44 / Chapter 10 / Article 1 / Section 1407
44-1407 Civil penalty and injunctive enforcement
Status: in_force

44-1407. Civil penalty and injunctive enforcement

The attorney general or a county attorney with the permission or at the request of the attorney general may bring an action for appropriate injunctive or other equitable relief and civil penalties and as determined by the court, taxable costs, such other fees and expenses reasonably incurred and reasonable attorney fees, in the name of the state for a violation of this article. The court may assess for the benefit of the state a civil penalty of not more than one hundred fifty thousand dollars for each violation of this article.
A.R.S. § 44-1262 — Arizona Code / Title 44 / Chapter 9 / Article 5 / Section 1262
44-1262 New motor vehicle; repair during express warranty or two years or twenty-four thousand miles
Status: in_force

44-1262. New motor vehicle; repair during express warranty or two years or twenty-four thousand miles

A. If a new motor vehicle does not conform to all applicable express warranties:

1. A consumer shall report the nonconformity to the manufacturer, its agent or its authorized dealer or issuer of a warranty during the shorter of the following:

(a) The term of the express warranty.

(b) The period of two years or twenty-four thousand miles following the date of original delivery of the motor vehicle to the consumer, whichever is earlier.

2. The manufacturer, its agent or its authorized dealer or the issuer of a warranty shall make those repairs that are necessary to conform the motor vehicle to such express warranties, even if the repairs are made after the expiration of the term or two year period or twenty-four thousand mile limit.

B. This section does not limit in any way the remedies available to a consumer under a new motor vehicle warranty that extends beyond the limits prescribed in this section.
A.R.S. § 44-1252 — Arizona Code / Title 44 / Chapter 9 / Article 4 / Section 1252
44-1252 Sale of beverages in containers with severable opening prohibited; exception; violation; classification
Status: in_force

44-1252. Sale of beverages in containers with severable opening prohibited; exception; violation; classification

A. A person shall not sell or offer to sell to consumers a beverage in a container designed or constructed with a metal opening device that detaches when opening the container. This section does not prohibit the sale of a beverage in a container which has an opening device composed of foil or a paper product attached or added to the container.

B. A person who violates this section is guilty of a petty offense.
A.R.S. § 44-134 — Arizona Code / Title 44 / Chapter 1 / Article 3 / Section 134
44-134 Capacity for blood donation
Status: in_force

44-134. Capacity for blood donation

A. Notwithstanding any other law, a person who is at least eighteen years of age and who is otherwise competent may consent to the donation of blood and be subject to the penetration of tissue necessary to accomplish the donation at a federally approved blood bank.

B. Notwithstanding any other law, a minor who is sixteen or seventeen years of age may donate blood and be subject to the penetration of tissue necessary to accomplish the donation at a federally approved blood bank only if the minor has the written consent of the minor's parent or legal guardian.
A.R.S. § 44-1892 — Arizona Code / Title 44 / Chapter 12 / Article 7 / Section 1892
44-1892 Documents required for application for registration by qualification; fee
Status: in_force

44-1892. Documents required for application for registration by qualification; fee

Application for registration of securities by qualification shall be made by the issuer of the securities by filing with the commission the following documents:

1. An application for registration of securities by qualification as provided by section 44-1893.

2. A prospectus as provided by section 44-1894, except as provided in section 44-1901.

3. A nonrefundable registration fee of one-tenth of one percent of the aggregate offering price of securities to be sold in this state, but the registration fee shall not be less than two hundred nor more than two thousand dollars.  The amount by which a registration fee exceeds one thousand five hundred dollars shall be allocated to the office of economic opportunity operations fund established by section 41-5302.

4. A consent to service of process as provided by section 44-1862, if the issuer is not domiciled in this state and is not an entity organized under the laws of this state.
A.R.S. § 44-3112 — Arizona Code / Title 44 / Chapter 13 / Article 2 / Section 3112
44-3112 Assistant director of securities
Status: in_force

44-3112. Assistant director of securities

The assistant director of securities appointed pursuant to section 44-1812 shall assist in administering this chapter.
A.R.S. § 44-1776 — Arizona Code / Title 44 / Chapter 11 / Article 12 / Section 1776
44-1776 Art dealer; duties
Status: in_force

44-1776. Art dealer; duties

A. An art dealer who accepts a work of fine art, on a fee, commission or other compensation basis, on consignment from the artist who created the work of fine art may use or display the work of fine art or a photograph of the work of fine art or permit the use or display of the work of fine art or a photograph of the work of fine art only if:

1. Notice is given to users or viewers that the work of fine art is the work of the artist.

2. The artist gives prior written consent to the particular use or display.

B. An art dealer who sells a work of fine art which is on consignment for the purpose of sale shall transmit all monies due the artist on a monthly basis.
A.R.S. § 44-1874 — Arizona Code / Title 44 / Chapter 12 / Article 6 / Section 1874
44-1874 Registration of additional securities by description
Status: in_force

44-1874. Registration of additional securities by description

Additional amounts of securities registered by description under sections 44-1871 through 44-1873 may with the consent of the commission be registered by payment of an additional registration fee, which shall be computed as provided in subsection C of section 44-1861 as a separate fee for each additional amount registered.
A.R.S. § 44-7401 — Arizona Code / Title 44 / Chapter 31 / Article 1 / Section 7401
44-7401 Definitions
Status: in_force

44-7401. Definitions

In this chapter, unless the context otherwise requires:

1. "Fee" means any amount or value automatically deducted from the amount of the gift card due to a period of nonuse or inactivity.

2. "Gift card" means any gift certificate, gift card or electronic gift card or any other medium issued or sold after October 31, 2005 for which the issuer has received payment for the full face value or full banked dollar value of the card for the future purchase or delivery of goods or services.
A.R.S. § 44-1799.06 — Arizona Code / Title 44 / Chapter 11 / Article 17 / Section 1799.06
44-1799.06 Contested actions; procedures
Status: in_force

44-1799.06. Contested actions; procedures

A. If a pet dealer contests a demand for remedies, the pet dealer may require the purchaser to produce the cat or dog for examination by a veterinarian who is licensed pursuant to title 32, chapter 21 unless the cat or dog has died. The pet dealer shall pay the costs of examination.

B. If the purchaser and the pet dealer are unable to reach an agreement within thirty days after the pet dealer receives the veterinarian statement or the veterinarian receives the cat or dog for examination, whichever is later, the purchaser may file an action in a court of competent jurisdiction or the parties may agree in writing to submit to binding arbitration.

C. The prevailing party in the action shall be awarded reasonable attorney fees if the other party acted in bad faith in seeking or denying the requested remedy.
A.R.S. § 44-338 — Arizona Code / Title 44 / Chapter 3 / Article 1 / Section 338
44-338 Appeal of determination of amounts due
Status: in_force

44-338. Appeal of determination of amounts due

A. A determination by the department under section 44-322 that any unclaimed property is reportable, or a demand for interest or penalties, constitutes an appealable agency action pursuant to section 41-1092, paragraph 3. The holder may appeal the department’s determination pursuant to title 41, chapter 6, article 10.

B. Except as provided in section 41-1092.08, subsection H, a final decision of the department is subject to judicial review pursuant to title 12, chapter 7, article 6.

C. If the holder does not file a notice of appeal as provided in subsections A and B of this section, the amount determined to be due becomes final at the expiration of the period provided for appeal and the holder is deemed to have waived and abandoned the right to question the amount determined to be due.
A.R.S. § 44-1945 — Arizona Code / Title 44 / Chapter 12 / Article 9 / Section 1945
44-1945 Application for registration as salesman; filing; contents; exemptions
Status: in_force

44-1945. Application for registration as salesman; filing; contents; exemptions

A. Any individual may apply for registration as a salesman.  An application for registration as a salesman shall be signed by the applicant and by the registered dealer employing or intending to employ the applicant and shall be duly verified by oath.  The application accompanied by the registration fee prescribed by section 44-1861, subsection A shall be filed with the commission and shall include the following, together with other information the commission prescribes:

1. Name, residence address and business address of the applicant.

2. Name of the dealer employing or intending to employ the applicant.

3. Age and education of the applicant.

4. The nature of employment and name and address of each employer of the applicant for the ten years immediately preceding the date of application.

5. A statement showing whether the applicant has been registered as a dealer in or salesman of securities under laws of other states or as a broker or dealer under the securities exchange act of 1934 and whether or not such registration has been denied, cancelled, suspended or revoked and, if so, a complete statement of the facts with respect to the denial, cancellation, suspension or revocation.

6. A statement showing whether the applicant has, within the past ten years, been convicted of or charged with a felony or misdemeanor of which fraud is an essential element, or a felony or misdemeanor involving the purchase or sale of securities and, if so, a complete statement of the facts with respect to the conviction.

7. A statement showing whether the applicant has been enjoined or restrained by a court of competent jurisdiction in connection with the purchase or sale of securities and, if so, a complete statement of the facts with respect to the enjoinder.

8. If the applicant's fingerprints are not on file with the division, the CRD system or the investment adviser registration depository operated by the national association of securities dealers, a full set of fingerprints. The commission shall submit the fingerprints to the department of public safety for the purpose of obtaining a state and federal criminal records check pursuant to section 41-1750 and Public Law 92-544. The department of public safety may exchange this fingerprint data with the federal bureau of investigation.

B. By rule or order, the commission may provide limited registration requirements for any salesman or class of salesmen or exempt any salesman or class of salesmen from registration under this article if the commission determines that registration is not necessary to protect the public interest due to the special characteristics of the securities or transactions in which the salesman or class of salesmen is involved.

C. Any salesman effecting transactions in this state limited solely to those transactions described in sections 15(h)(2) and (3) of the securities exchange act of 1934 is exempt from registration under this article.
A.R.S. § 44-1799.63 — Arizona Code / Title 44 / Chapter 11 / Article 22 / Section 1799.63
44-1799.63 Amusement ride owners and operators; requirements; denial of entry
Status: in_force

44-1799.63. Amusement ride owners and operators; requirements; denial of entry

A. An amusement ride owner or operator shall:

1. Have the amusement ride inspected at least once a year by an insurer, a person with whom the insurer has contracted or an amusement ride inspector provided by a municipality or county who is experienced and educated in amusement ride inspections in compliance with the amusement rides and devices standards of the American society of testing and materials.  If an inspection reveals that the amusement ride does not meet the amusement rides and devices standards of the American society of testing and materials or requires repair or replacement of equipment, the inspector shall notify the owner or operator and shall not issue the written certificate of inspection until the owner or operator meets the standards and makes the repairs or installs the replacement equipment.

2. Maintain at all times a written certificate of the annual inspection.

3. Procure insurance for the amusement ride from an insurer authorized to do business in this state pursuant to section 20-217 or by an insurer on the list of qualified unauthorized insurers pursuant to section 20-413, insuring the owner or operator against liability for injury to persons arising from the use of the amusement ride, in an amount of not less than one million dollars for bodily injury and five hundred thousand dollars for property damage per occurrence or in an amount of two million dollars per occurrence for a combined single limit.

4. Maintain at all times the written permit for operation of the amusement ride issued by the municipality or county.

5. Provide to each sponsor, lessor or property owner of the property where the amusement ride is operated documentation of compliance with the insurance, inspection and permit requirements of this article.

6. Maintain for a period of at least two years accurate records of any governmental action taken in any state relating to the amusement ride, including any operation permits, insurance certificates, inspection reports, incident reports, maintenance and operational records and records documenting the repair or replacement of equipment used in the operation of the amusement ride.  A copy of these records shall be provided to the municipality or county at the time of application for a permit under section 44-1799.62.

7. Maintain for a period of at least two years accurate records of serious injuries actually caused by the amusement ride that are consistent with the recording standards of the American society of testing and materials.  The injury records are not subject to public inspection except upon demand of a municipal or county peace officer or enforcement official.  A copy of these records shall be provided to the municipality or county at the time of application for a permit under section 44-1799.62.

B. An amusement ride operator may deny entry to the amusement ride of any person if, in the opinion of the operator, the entry may jeopardize the safety of the person or any other amusement ride patron.
A.R.S. § 44-1741 — Arizona Code / Title 44 / Chapter 11 / Article 10 / Section 1741
44-1741 Definitions
Status: in_force

44-1741. Definitions

In this article, unless the context otherwise requires:

1. "Contract for dance studio lessons and other services" means a contract for instruction in ballroom or other types of dancing and includes but is not limited to dance competitions, olympics, single specialist projects, showcases and other services whether given to customers individually or in groups.

2. "Dance studio" means any person who contracts directly with members of the general public to provide dance studio lessons and other services.
A.R.S. § 44-1799.41 — Arizona Code / Title 44 / Chapter 11 / Article 20 / Section 1799.41
44-1799.41 Heavy equipment rental agreements; requirements; definition
Status: in_force

44-1799.41. Heavy equipment rental agreements; requirements; definition

A. A person in the business of renting heavy equipment property located in this state shall include in the rental agreement a one and one-half per cent surcharge of the gross rental receipts for any item of heavy equipment rented by a customer.  The total amount of the surcharge that is collected by the business is for the purposes of paying personal property tax that is levied by all taxing jurisdictions against the heavy equipment property.

B. For the purposes of this section, "heavy equipment property" means rental property of an industry that is described under code 532412 or 532490 of the 2002 north American industry classification system as published by the United States census bureau.
A.R.S. § 44-3297 — Arizona Code / Title 44 / Chapter 13 / Article 11 / Section 3297
44-3297 Costs recoverable
Status: in_force

44-3297. Costs recoverable

In an action brought under this article, the commission or the attorney general is entitled to recover costs that in the discretion of the court may include an amount representing reasonable attorney fees and investigative expenses for services rendered.
A.R.S. § 44-5002 — Arizona Code / Title 44 / Chapter 15 / Article 1 / Section 5002
44-5002 Cancellation period; method of cancellation; intent; waiver void
Status: in_force

44-5002. Cancellation period; method of cancellation; intent; waiver void

A. In addition to any right otherwise to revoke an offer, the buyer may cancel a home solicitation sale until midnight of the third business day after the day on which the buyer signs an agreement subject to the provisions of this chapter. For the purposes of this chapter, "business day" does not include Sundays or the federal holidays of New Year's Day, Memorial Day, Independence Day, Labor Day, Columbus Day, Veterans' Day, Thanksgiving Day, Christmas Day, or Washington's Birthday.

B. Cancellation shall occur when the buyer gives written notice of cancellation in person or by telegram to the seller at the address specified for notice of cancellation provided by the seller or when such written notice bearing such address is deposited in the United States mail by either ordinary mail or registered mail.

C. Notice of cancellation given by the buyer is effective if it indicates the intention on the part of the buyer not to be bound by the home solicitation sale.

D. Any provision of a contract, offer or agreement that waives a buyer's right of cancellation under this section is void and has no effect.
A.R.S. § 44-3202 — Arizona Code / Title 44 / Chapter 13 / Article 6 / Section 3202
44-3202 Entry of order of denial, suspension or revocation
Status: in_force

44-3202. Entry of order of denial, suspension or revocation

A. If, after a hearing or notice and an opportunity for a hearing as provided in article 7 of this chapter, the commission finds grounds to deny, suspend or revoke the license of an investment adviser or investment adviser representative, the director shall enter an order denying, suspending or revoking the license of the investment adviser or investment adviser representative.  The order shall state specifically the grounds for its issuance and shall be filed with docket control of the commission.

B. A copy of the order shall be sent by certified mail to the investment adviser or investment adviser representative whose license is denied, suspended or revoked, and if the denial, suspension or revocation of the license is of an investment adviser representative, to the licensed investment adviser who employs the investment adviser representative.

C. Denial, suspension or revocation of the license of an investment adviser also suspends or revokes the license of all of the investment adviser's investment adviser representatives, but suspension or revocation of the license of an investment adviser representative solely because the investment adviser representative was employed by an investment adviser whose license was denied, suspended or revoked does not prejudice subsequent applications for licensure by the investment adviser representative.

D. An investment adviser or investment adviser representative that has voluntarily terminated or allowed the adviser's or representative's license to lapse shall continue to be subject to actions by the commission under this article in connection with conduct that began before the termination or lapse of the license.  Any action by the commission under this article against an investment adviser or investment adviser representative shall begin within two years after termination or lapse of the license.
A.R.S. § 44-1408 — Arizona Code / Title 44 / Chapter 10 / Article 1 / Section 1408
44-1408 Damages; injunctive relief
Status: in_force

44-1408. Damages; injunctive relief

A. The state, a political subdivision or any public agency threatened with injury or injured in its business or property by a violation of this article may bring an action for appropriate injunctive or other equitable relief, damages sustained and, as determined by the court, taxable costs and reasonable attorney's fees.

B. A person threatened with injury or injured in his business or property by a violation of this article may bring an action for appropriate injunctive or other equitable relief, damages sustained and, as determined by the court, taxable costs and reasonable attorney's fees. If the trier of fact finds that the violation is flagrant, it shall increase recovery to an amount not in excess of three times the damages sustained.
A.R.S. § 44-1798.05 — Arizona Code / Title 44 / Chapter 11 / Article 15 / Section 1798.05
44-1798.05 Applicability
Status: in_force

44-1798.05. Applicability

This article does not apply to any of the following:

1. An individual or business entity engaged in providing insurance pursuant to title 20.

2. A bank, trust company, savings and loan association, credit union, consumer lender or financial institution organized, chartered or holding a license or authorization certificate under the law of this state, any other state, the United States or the parent, subsidiary or affiliate of such entity.

3. A person who holds a real estate salesperson’s license pursuant to title 32, chapter 20 and who has a claim for payment of a real estate commission or compensation against the real estate broker with whom such real estate salesperson is affiliated.
A.R.S. § 44-2052 — Arizona Code / Title 44 / Chapter 12 / Article 17 / Section 2052
44-2052 Exchange operation; commission rules
Status: in_force

44-2052. Exchange operation; commission rules

A. If instructed by the commission the director shall seek to facilitate the formation, pursuant to title 10, chapter 2, article 1, of one or more private corporations to operate one or more securities exchanges in Arizona.

B. The governing board of a corporation operating a securities exchange shall establish exchange procedures and rules including procedures and rules governing the conduct of members and prohibiting deceptive, manipulative, abusive or fraudulent practices. The procedures and rules established by the board shall be as similar as practicable to the procedures and rules established by the midwest stock exchange, incorporated. In its discretion, the board may deviate from the procedures and rules of the midwest stock exchange if it deems it necessary to do so.

C. The governing board of a corporation operating a securities exchange shall establish listing and delisting standards and criteria for the exchange. Such standards and criteria shall not be less stringent than the entry and maintenance standards, in effect on March 8, 1991, for companies listed on the national association of securities dealer automated quotation system. These standards and criteria may not be waived unless permitted by order of the commission. On certification by the president that a company desiring to list its securities for trading on the exchange meets all formal listing requirements, the board shall make a determination whether the proposed listing is in the public interest. In making its determination, the board shall consider the financial condition of the company and any probable changes in the company, the experience, quality, character and integrity of the management of the company, the company's present and anticipated markets for its products or services and competition in these markets, and the company's prior compliance with all applicable laws and rules. The board shall deny listing to any company that in its sole judgment is not suitable for listing. The board shall seek to repress manipulation, fraud and abusive practices in connection with the trading of listed or unlisted securities and to avoid instances of insolvency of companies whose securities are traded on the exchange.

D. The commission shall adopt rules for the regulation of any securities exchange located in this state. Shares of common stock whose price at the time of listing or initial unlisted trading is less than five dollars per share shall not be listed or traded on an Arizona securities exchange, unless permitted by order of the commission. A procedure, rule, listing or delisting standard or criteria for a securities exchange in Arizona adopted by the governing board pursuant to subsection B or C shall be consistent with rules adopted by the commission. All procedures, rules, standards and criteria adopted by the governing board of a corporation operating a securities exchange in Arizona pursuant to subsections B and C shall be submitted to and approved by the commission before they become effective.
A.R.S. § 44-1877 — Arizona Code / Title 44 / Chapter 12 / Article 6 / Section 1877
44-1877 Escrow of treasury stock; restrictive sales agreement
Status: in_force

44-1877. Escrow of treasury stock; restrictive sales agreement

Except as provided in section 44-1901, the commission may in its discretion by order require as a condition to registration of securities under this chapter that all treasury stock of the issuer, or other securities issued and thereafter acquired by the issuer, shall be subject to a restrictive sales agreement or shall be deposited in escrow in a suitable depository, subject to the terms and conditions as to release from the restrictive sales agreement or the escrow as the commission deems necessary. Any treasury stock or other security that is subject to a restrictive sales agreement shall have a legend on the back of the treasury stock or other security that states that the treasury stock or other security is subject to a restrictive sales agreement.
A.R.S. § 44-290 — Arizona Code / Title 44 / Chapter 2.1 / Article 1 / Section 290
44-290 Amount of payments; waiver of remedies
Status: in_force

44-290. Amount of payments; waiver of remedies

A. Upon written request from the buyer, the holder of a retail installment contract shall give or forward to the buyer a written statement of the dates and amounts of payments and the total amount unpaid under such contract. A buyer shall be given a written receipt for any payment when made in cash.

B. No provision in a retail installment contract relieving the seller from liability for any legal remedies which the buyer may have against the seller under the contract, or any separate instrument executed in connection therewith, shall be enforceable.
A.R.S. § 44-1981 — Arizona Code / Title 44 / Chapter 12 / Article 12 / Section 1981
44-1981 Judicial review
Status: in_force

44-1981. Judicial review

Decisions of the commission pursuant to this chapter shall be subject to judicial review in the Maricopa county superior court pursuant to title 12, chapter 7, article 6.
A.R.S. § 44-1698 — Arizona Code / Title 44 / Chapter 11 / Article 6 / Section 1698
44-1698 Security freeze on credit reports and credit scores; fees prohibited; definitions
Status: in_force

44-1698. Security freeze on credit reports and credit scores; fees prohibited; definitions

A. A consumer may request in writing or in a form acceptable to the consumer reporting agency that a consumer reporting agency place a security freeze on the consumer's credit report.  If a security freeze is in place, a consumer reporting agency shall not release a consumer's credit report or consumer's credit score to a third party without the consumer's prior express authorization.  This subsection does not prevent a consumer reporting agency from advising a specific party that a security freeze is in effect with respect to the consumer's credit report.

B. A consumer reporting agency shall place a security freeze on a consumer's credit report not later than ten business days after receiving a written request from the consumer.

C. The consumer reporting agency shall send a written confirmation of the security freeze to the consumer within ten business days after placing the security freeze on the consumer's credit report and shall provide the consumer with a unique personal identification number or password, other than the consumer's social security number, that the consumer may use to provide authorization for the release of the consumer's credit report for a specific period of time and to remove the security freeze.

D. A security freeze remains in effect until the consumer requests that the security freeze be removed or temporarily lifted as provided in this section.  A consumer may request that a security freeze be removed or temporarily lifted by mail, telephone, internet or other electronic contact method in a form acceptable to the consumer reporting agency.  A consumer reporting agency shall require proper identification of any person who makes a request to place or remove a security freeze.

E. On requesting removal, the consumer shall provide the following information:

1. Proper identification.

2. The unique personal identification number or password that the consumer reporting agency provided to the consumer.

F. On requesting a temporary lift to allow a credit report to be accessed for a specific period of time, the consumer shall contact the consumer reporting agency and shall request that the security freeze be temporarily lifted and shall provide the following information:

1. Proper identification.

2. The unique personal identification number or password that the consumer reporting agency provided to the consumer.

3. The proper information regarding the specific time period for which the credit report shall be available to users of the credit report.

G. A consumer reporting agency shall remove or temporarily lift a security freeze from a consumer's credit report within:

1. Three business days after receiving the consumer's request for the removal or temporary lift by mail.

2. Fifteen minutes after receiving the consumer's request through the use of telephone, internet or other electronic contact method in a form acceptable to the consumer reporting agency, during normal business hours. The consumer reporting agency is not required to remove or temporarily lift the security freeze within the fifteen minute time limit if the agency's ability is prevented by any of the following:

(a) An act of God, including fire, earthquakes, hurricanes, storms or similar natural disaster or phenomena.

(b) Unauthorized or illegal acts by a third party, including terrorism, sabotage, riot, vandalism, labor strikes or disputes disrupting operations or similar occurrence.

(c) Operational interruption, including electrical failure, unanticipated delay in equipment or replacement part delivery, computer hardware or software failures inhibiting response time or similar disruption.

(d) Governmental action, including emergency orders or regulations, judicial or law enforcement action or similar directives.

(e) Regularly scheduled maintenance, during other than normal business hours of, or updates to, the consumer reporting agency's systems.

(f) Commercially reasonable maintenance of, or repair to, the consumer reporting agency's systems that is unexpected or unscheduled.

(g) Receipt of a removal or temporary lift request outside of normal business hours.

H. A consumer reporting agency shall remove or temporarily lift a security freeze placed on a consumer's credit report only in the following cases:

1. If the consumer requests removal pursuant to subsection E of this section or a temporary lift pursuant to subsection F of this section.

2. If the consumer's credit report was frozen as a result of a material misrepresentation of fact. If a consumer reporting agency intends to remove a security freeze on a consumer's credit report pursuant to this paragraph, the consumer reporting agency shall notify by mail, telephone, internet or other electronic contact method the consumer before removing the security freeze on the consumer's credit report.

I. When a consumer requests a security freeze, the consumer reporting agency shall disclose the process for placing and for removing or temporarily lifting a freeze and the process for allowing access to information from the consumer's credit report for a specific period of time while the security freeze is in place.

J. If a third party requests access to a credit report on which a security freeze is in effect, the request is in connection with an application for credit or any other use and the consumer does not allow the consumer's credit report to be accessed for a specific period of time, the third party may treat the application as incomplete.

K. A consumer reporting agency may not charge a fee for a security freeze, removal of the freeze or temporary lift of the freeze for a period of time on the consumer's credit report.

L. A consumer reporting agency may not charge a fee if the consumer fails to retain the original unique personal identification number or password provided by the consumer reporting agency and the consumer reporting agency must reissue the unique personal identification number or password or provide a new unique personal identification number or password to the consumer.

M. If a security freeze is in place, a consumer reporting agency shall not change a consumer's name, date of birth, social security number or address in the consumer's credit report without sending a written confirmation of the change to the consumer within thirty days after the change is posted to the consumer's file.  Written confirmation is not required for technical modifications of a consumer's official information, including name and street abbreviations, complete spellings or transposition of numbers or letters.  For the purposes of address changes, the consumer reporting agency shall send the written confirmation to both the new address and the former address.

N. This section does not apply to the use of a credit report or credit score by any of the following:

1. A person, a subsidiary, affiliate, agent or subcontractor of that person, an assignee of a financial obligation owed by the consumer to that person or a prospective assignee of a financial obligation owed by the consumer to that person in conjunction with the proposed purchase of the financial obligation with which the consumer has or had before assignment an account or contract, including a demand deposit account, or to whom the consumer issued a negotiable instrument, for the purposes of reviewing the account or collecting the financial obligation owed for the account, contract or negotiable instrument. For the purposes of this paragraph, "reviewing the account" includes activities that are related to account maintenance, monitoring, credit line increases and account upgrades and enhancements.

2. A subsidiary, affiliate, agent, assignee or prospective assignee of a person to whom access has been granted under this section for the purpose of facilitating the extension of credit or other permissible use.

3. Any state or local agency, law enforcement agency, trial court or private collection agency acting pursuant to a court order, warrant or subpoena.

4. A child support agency acting pursuant to title 25, chapter 3, article 2 or title IV-D of the social security act.

5. The department of health services or its agents or assigns acting to investigate fraud.

6. The department of revenue or its agents or assigns acting to investigate or collect delinquent taxes or unpaid court orders or to fulfill any of its other statutory responsibilities.

7. The department of transportation or its agents or assigns acting to investigate or collect delinquent taxes or unpaid court orders or to fulfill any of its other statutory responsibilities.

8. The administrative office of the courts to conduct audits or investigate fraud or for applicant screening.

9. Any agency or entity for the purposes of prescreening or postscreening as provided for by the federal fair credit reporting act (15 United States Code section 1681b).

10. Any person or entity that administers a credit file monitoring subscription service to which the consumer has subscribed.

11. Any person or entity for the purpose of providing a consumer with a copy of the consumer's credit report or consumer's credit score on the consumer's request.

12. Except as otherwise provided by law, a person setting or adjusting a rate or claim or underwriting for insurance purposes.

13. Any person who uses a consumer reporting agency's database or file that consists entirely of information concerning, and is used solely for, one or more of the following:

(a) Criminal record information.

(b) Fraud prevention or detection.

(c) Tenant screening.

(d) Employment screening.

14. Any state or federally regulated bank or financial institution for checking, savings and investment accounts.

O. The following entities are not required to place a security freeze on a credit report:

1. A check services or fraud prevention services company that issues reports on incidents of fraud or authorizations for the purpose of approving or processing negotiable instruments, electronic funds transfers or similar methods of payments.

2. A deposit account information service company that issues reports regarding account closures due to fraud, substantial overdrafts, automated teller machine abuse or similar negative information regarding a consumer to inquiring banks or financial institutions for use only in reviewing a consumer request for a deposit account at the inquiring bank or financial institution.

3. A consumer reporting agency that acts only as a reseller of credit information by assembling and merging information contained in the database of another consumer reporting agency or multiple consumer reporting agencies and that does not maintain a permanent database of credit information from which new credit reports or credit scores are produced.

P. An act or practice in violation of this section is an unlawful practice under section 44-1522 and is subject to enforcement through a private action and by the attorney general. Injunctive relief may be sought to prevent future violations of this section. The remedies provided in this section are not intended to be the exclusive remedies available to a consumer.  This subsection does not apply to subsection G, paragraph 2 of this section.

Q. For the purposes of this section:

1. "Proper identification" means information that is generally deemed to be sufficient to identify a person under the circumstances.

2. "Security freeze" means a notice that is placed in a consumer's credit report at the request of the consumer and that prohibits the consumer reporting agency from releasing the consumer's credit report without the express authorization of the consumer.
A.R.S. § 44-1352 — Arizona Code / Title 44 / Chapter 9 / Article 11 / Section 1352
44-1352 New assistive device; nonconformity; reasonable attempt to make a repair; reasonable allowance; options
Status: in_force

44-1352. New assistive device; nonconformity; reasonable attempt to make a repair; reasonable allowance; options

A. Except as provided in subsection B of this section, a manufacturer who sells an assistive device to a consumer, directly or through an assistive device dealer, shall give the consumer an express warranty against defects, malfunctions or conditions for the assistive device. The duration of the express warranty shall be for at least one year after the initial delivery of the assistive device to the consumer.

B. In the absence of an express warranty from the manufacturer, the manufacturer is deemed to have expressly warranted to the consumer that the assistive device will be free from any defect, malfunction or condition that substantially impairs the use, safety or value of the assistive device. The duration of the express warranty shall be for at least one year after the initial delivery of the assistive device to the consumer.

C. During the period of the express warranty, if a new assistive device does not conform to the express warranty and the consumer reports the nonconformity to the manufacturer, the manufacturer's authorized assistive device dealers or the assistive device lessor and makes the assistive device available for repair, the nonconformity shall be repaired at no charge to the consumer.

D. If the nonconformity is not repaired after a reasonable attempt to make a repair, a consumer, as defined in section 44-1351, paragraph 5, subdivision (a), (b) or (c), may direct the manufacturer to perform one of the following options and the manufacturer shall comply with the option chosen by the consumer:

1. Accept return of the assistive device and replace the assistive device with a comparable new assistive device and refund any collateral costs to the consumer and assistive device lessor.

2. Accept return of the assistive device and refund to the consumer and to any holder of a perfected security interest in the assistive device the full purchase price plus any finance charge paid by the consumer at the point of sale and collateral costs minus a reasonable allowance for use. A reasonable allowance for use shall not exceed the amount obtained by multiplying the full purchase price of the assistive device by a fraction, the numerator of which is the number of days that the assistive device was used before the consumer first reported the nonconformity to the assistive device dealer and the denominator of which is one thousand eight hundred twenty-five.

E. If the nonconformity is not repaired after a reasonable attempt to make a repair, a consumer, as defined in section 44-1351, paragraph 5, subdivision (d), may direct the manufacturer to perform one of the following options and the manufacturer shall comply with the option chosen by the consumer:

1. Accept return of the assistive device, replace the assistive device with a comparable new assistive device and refund any collateral cost to the consumer and assistive device dealer.

2. Refund to the assistive device lessor and to any holder of a perfected security interest in the assistive device the current value of the written lease and refund to the consumer the amount that the consumer paid under the written lease plus all collateral costs minus a reasonable allowance for use. A reasonable allowance for use shall not exceed the amount obtained by multiplying the total amount for which the written lease obligates the consumer by a fraction, the numerator of which is the number of days that the assistive device was used before the consumer first reported the nonconformity to the manufacturer, assistive device lessor or assistive device dealer and the denominator of which is one thousand eight hundred twenty-five.
A.R.S. § 44-1876 — Arizona Code / Title 44 / Chapter 12 / Article 6 / Section 1876
44-1876 Escrow of certain securities; restrictive sales agreement
Status: in_force

44-1876. Escrow of certain securities; restrictive sales agreement

A. Except as provided in section 44-1901, as a condition to registration of securities under this chapter, the commission may in its discretion by order require that securities issued for or which are intended to be issued for a patent right, copyright, trademark, process, formula, goodwill, option, lease, assignment, service, or other intangible asset, or for fees or expenses in connection with the promotion or organization of the issuer, shall be subject to a restrictive sales agreement or shall be deposited in escrow in some depository satisfactory to the commission under an escrow agreement subject to the orders of the commission as to withdrawal or termination, and whereby the owners of the securities shall not be entitled to sell or transfer the securities without the consent of the commission. Any security that is subject to a restrictive sales agreement shall have a legend on the back of the security that states that the security is subject to a restrictive sales agreement.

B. In the event of dissolution or insolvency of the issuer during the time such securities are held in escrow, the owners of the securities shall not participate in any distribution of assets until after the owners of all other securities have been paid in full.
A.R.S. § 44-3299 — Arizona Code / Title 44 / Chapter 13 / Article 11 / Section 3299
44-3299 State liability; limitation
Status: in_force

44-3299. State liability; limitation

Except as otherwise provided by law, this state, any political subdivision of this state, the commission, the director or any state officer, agent or employee acting in good faith is not liable for any injury or damage to investors or the general public resulting from any actual or opportunity losses suffered through the activities of investment advisers or investment adviser representatives.
A.R.S. § 44-1684 — Arizona Code / Title 44 / Chapter 11 / Article 5 / Section 1684
44-1684 Sale of articles described falsely
Status: in_force

44-1684. Sale of articles described falsely

No article shall be sold at auction which has been falsely described or concerning which any false statement has been made by the licensee or his employee or agent.
A.R.S. § 44-1797.17 — Arizona Code / Title 44 / Chapter 11 / Article 14 / Section 1797.17
44-1797.17 Violation; classification
Status: in_force

44-1797.17. Violation; classification

A person who violates any provision of this article is guilty of a class 6 felony.
A.R.S. § 44-1378.01 — Arizona Code / Title 44 / Chapter 9 / Article 22 / Section 1378.01
44-1378.01 Applicability
Status: in_force

44-1378.01. Applicability

A. This article does not apply to:

1. A person licensed to practice law in this state, while performing any activity related to the person's attorney-client relationship with a homeowner or with the beneficiary, mortgagee, grantee or holder of any lien being enforced by foreclosure.

2. A holder or servicer of an evidence of debt or the attorney for the holder or servicer of an evidence of debt secured by a deed of trust or other lien on any residence in foreclosure while the person performs services in connection with the evidence of debt, lien, deed of trust or other lien securing the debt.  For the purposes of this paragraph, the following persons are presumed to be the holder of evidence of debt:

(a) The person who is the obligee of and who is in possession of an original evidence of debt.

(b) The person in possession of an original evidence of debt together with the proper endorsement or assignment.

(c) The person in possession of a negotiable instrument evidencing a debt that has been duly negotiated to the person or to bearer or endorsed in blank.

(d) The person in possession of an evidence of debt with authority, which may be granted by the original evidence of debt or deed of trust, to enforce the evidence of debt as agent, nominee or trustee or in a similar capacity for the obligee of the evidence of debt.

3. A person doing business under any law of this state or the United States that regulates banks, trust companies, savings and loan associations, credit unions, insurance companies, title insurers, insurance producers or escrow companies authorized to conduct business in this state, while the person performs services as part of the person's normal business activities, or an affiliate or subsidiary, or an employee or agent acting on behalf of, any of the foregoing.

4. A person originating or closing a loan in the person's normal course of business if any of the following is true:

(a) The loan is subject to the requirements of the real estate settlement procedures act of 1974 (P.L. 93-533; 88 Stat. 1724; 12 United States Code sections 2601 through 2617).

(b) With respect to any second mortgage or home equity line of credit, the loan is subordinate to and closed simultaneously with a qualified first mortgage loan under subdivision (a) of this paragraph or is initially payable on the face of the note or contract to an entity included in paragraph 3.

(c) The loan is recorded in the real property records of the clerk and recorder of the county where the residence in foreclosure is located and the legal action giving rise to the judgment was commenced before the notice of election and demand for sale.

5. A title insurance company or title insurance agent authorized to conduct business in this state while performing title insurance and settlement services.

6. A person licensed as a real estate broker or real estate salesperson under title 32, chapter 20 while the person engages in any activity for which the person is licensed.

7. A nonprofit organization that is exempt from taxation under section 501(c)(3) of the internal revenue code and that solely offers counseling or advice to homeowners in foreclosure or loan default, unless the organization is an associate of the foreclosure consultant.

8. An individual or entity working with the homeowners in foreclosure to purchase the residence in foreclosure through a short sale provided that the individual or entity does not claim, demand, charge, collect or receive any compensation for the transaction.

B. Nothing in this chapter shall be construed as authorizing conduct for which a license would be required under title 6, chapter 9, article 4.
A.R.S. § 44-1723 — Arizona Code / Title 44 / Chapter 11 / Article 8 / Section 1723
44-1723 Unlawful activities; civil action
Status: in_force

44-1723. Unlawful activities; civil action

The owner of a container may file a civil action for and shall be awarded damages, injunctive relief or the provisional remedy of replevin or any such combination against a person who, without the owner's consent, does any of the following:

1. Removes the owner's container from the owner's or a recipient's premises or parking area.

2. Uses or knowingly possesses the owner's container that has been removed from the owner's or a recipient's premises or parking area.

3. Obliterates, covers, removes or otherwise alters the name or mark on the owner's container.

4. Abandons or leaves the owner's container at a location other than the owner's or a recipient's premises or parking area.

5. Alters, converts, destroys or tampers with the owner's container.

6. Sells the owner's container to or purchases the owner's container from someone other than the owner.

7. Refuses to return the owner's container on demand of the owner.
A.R.S. § 44-294 — Arizona Code / Title 44 / Chapter 2.1 / Article 1 / Section 294
44-294 Records
Status: in_force

44-294. Records

Every holder or sales finance company shall maintain in its office, for a period of not less than one year after date of final payment or entry therein, a copy of all retail installment contracts or retail installment transactions entered into under the terms of this chapter.
A.R.S. § 44-7101 — Arizona Code / Title 44 / Chapter 27 / Article 1 / Section 7101
44-7101 Tobacco product manufacturers escrow accounts; model statute
Status: in_force

44-7101. Tobacco product manufacturers escrow accounts; model statute

This state enacts the model statute described in the master settlement agreement entered into on November 23, 1998 between this state and certain United States tobacco product manufacturers as exhibit T as follows:

Section 1. Findings and Purpose.

(a) Cigarette smoking presents serious public health concerns to the state and to the citizens of the state.  The surgeon general has determined that smoking causes lung cancer, heart disease and other serious diseases, and that there are hundreds of thousands of tobacco-related deaths in the United States each year.  These diseases most often do not appear until many years after the person in question begins smoking.

(b) Cigarette smoking also presents serious financial concerns for the state.  Under certain health-care programs, the state may have a legal obligation to provide medical assistance to eligible persons for health conditions associated with cigarette smoking, and those persons may have a legal entitlement to receive such medical assistance.

(c) Under these programs, the state pays millions of dollars each year to provide medical assistance for these persons for health conditions associated with cigarette smoking.

(d) It is the policy of the state that financial burdens imposed on the state by cigarette smoking be borne by tobacco product manufacturers rather than by the state to the extent that such manufacturers either determine to enter into a settlement with the state or are found culpable by the courts.

(e) On November 23, 1998, leading United States tobacco product manufacturers entered into a settlement agreement, entitled the "master settlement agreement," with the state. The master settlement agreement obligates these manufacturers, in return for a release of past, present and certain future claims against them as described therein, to pay substantial sums to the state (tied in part to their volume of sales); to fund a national foundation devoted to the interests of public health; and to make substantial changes in their advertising and marketing practices and corporate culture, with the intention of reducing underage smoking.

(f) It would be contrary to the policy of the state if tobacco product manufacturers who determine not to enter into such a settlement could use a resulting cost advantage to derive large, short-term profits in the years before liability may arise without ensuring that the state will have an eventual source of recovery from them if they are proven to have acted culpably. It is thus in the interest of the state to require that such manufacturers establish a reserve fund to guarantee a source of compensation and to prevent such manufacturers from deriving large, short-term profits and then becoming judgment-proof before liability may arise.

Section 2. Definitions.

(a) "Adjusted for inflation" means increased in accordance with the formula for inflation adjustment set forth in exhibit C to the master settlement agreement.

(b) "Affiliate" means a person who directly or indirectly owns or controls, is owned or controlled by, or is under common ownership or control with, another person.  Solely for purposes of this definition, the terms "owns," "is owned" and "ownership" mean ownership of an equity interest, or the equivalent thereof, of ten percent or more, and the term "person" means an individual, partnership, committee, association, corporation or any other organization or group of persons.

(c) "Allocable share" means allocable share as that term is defined in the master settlement agreement.

(d) "Cigarette" means any product that contains nicotine, is intended to be burned or heated under ordinary conditions of use, and consists of or contains (1) any roll of tobacco wrapped in paper or in any substance not containing tobacco; or (2) tobacco, in any form, that is functional in the product, which, because of its appearance, the type of tobacco used in the filler, or its packaging and labeling, is likely to be offered to, or purchased by, consumers as a cigarette; or (3) any roll of tobacco wrapped in any substance containing tobacco which, because of its appearance, the type of tobacco used in the filler, or its packaging and labeling, is likely to be offered to, or purchased by, consumers as a cigarette described in clause (1) of this definition.  The term "cigarette" includes "roll-your-own" (i.e., any tobacco which, because of its appearance, type, packaging, or labeling is suitable for use and likely to be offered to, or purchased by, consumers as tobacco for making cigarettes). For purposes of this definition of "cigarette," 0.09 ounces of "roll-your-own" tobacco shall constitute one individual "cigarette."

(e) "Master settlement agreement" means the settlement agreement (and related documents) entered into on November 23, 1998 by the state and leading United States tobacco product manufacturers.

(f) "Qualified escrow fund" means an escrow arrangement with a federally or state chartered financial institution having no affiliation with any tobacco product manufacturer and having assets of at least $1,000,000,000 where such arrangement requires that such financial institution hold the escrowed funds' principal for the benefit of releasing parties and prohibits the tobacco product manufacturer placing the funds into escrow from using, accessing or directing the use of the funds' principal except as consistent with section 3(B)(2) of this act.

(g) "Released claims" means released claims as that term is defined in the master settlement agreement.

(h) "Releasing parties" means releasing parties as that term is defined in the master settlement agreement.

(i) "Tobacco product manufacturer" means an entity that after the date of enactment of this act directly (and not exclusively through any affiliate):

(1) Manufactures cigarettes anywhere that such manufacturer intends to be sold in the United States, including cigarettes intended to be sold in the United States through an importer (except where such importer is an original participating manufacturer (as that term is defined in the master settlement agreement) that will be responsible for the payments under the master settlement agreement with respect to such cigarettes as a result of the provisions of subsection II(MM) of the master settlement agreement and that pays the taxes specified in subsection II(Z) of the master settlement agreement, and provided that the manufacturer of such cigarettes does not market or advertise such cigarettes in the United States);

(2) Is the first purchaser anywhere for resale in the United States of cigarettes manufactured anywhere that the manufacturer does not intend to be sold in the United States; or

(3) Becomes a successor of an entity described in paragraph (1) or (2).

The term "tobacco product manufacturer" shall not include an affiliate of a tobacco product manufacturer unless such affiliate itself falls within any of (1)-(3) above.

(j) "Tribal luxury taxes" means those taxes referenced in section 42-3302, subsection C.

(k) "Units sold" means the number of individual cigarettes sold to a consumer in the state by the applicable tobacco product manufacturer (whether directly or through a distributor, retailer or similar intermediary or intermediaries) during the year in question, regardless of whether state excise taxes were due or collected.  For cigarettes for which a state or tribal excise, luxury or similar tax is collected or precollected or that have a department of revenue cigarette tax stamp affixed to the package, the sale occurs at the earlier of the time that any tax is collected or precollected or that the tax stamp is affixed.  The department of revenue shall adopt such rules as are necessary to ascertain the units sold of such tobacco product manufacturer for each year.

Section 3. Requirements.

Any tobacco product manufacturer selling cigarettes to consumers within the state (whether directly or through a distributor, retailer or similar intermediary or intermediaries) after the date of enactment of this act shall do one of the following:

(a) Become a participating manufacturer (as that term is defined in section II(jj) of the master settlement agreement) and generally perform its financial obligations under the master settlement agreement; or

(b) (1) place into a qualified escrow fund by April 15 of the year following the year in question the following amounts (as such amounts are adjusted for inflation):

2000:  $.0104712 per unit sold after the date of enactment of this act;

For each of 2001 and 2002:  $.0136125 per unit sold;

For each of 2003 through 2006:  $.0167539 per unit sold;

For each of 2007 and each year thereafter:  $.0188482 per unit sold.

(2) A tobacco product manufacturer that places funds into escrow pursuant to paragraph (1) shall receive the interest or other appreciation on such funds as earned.  Such funds themselves shall be released from escrow only under the following circumstances:

(a) To pay a judgment or settlement on any released claim brought against such tobacco product manufacturer by the state or any releasing party located or residing in the state.  Funds shall be released from escrow under this subparagraph (i) in the order in which they were placed into escrow and (ii) only to the extent and at the time necessary to make payments required under such judgment or settlement;

(b) To the extent that a tobacco product manufacturer establishes that the amount it was required to place into escrow on account of units sold in the state in a particular year was greater than the master settlement agreement payments, as determined pursuant to section IX(i) of that agreement including after final determination of all adjustments, that such manufacturer would have been required to make on account of such units sold had it been a participating manufacturer, the excess shall be released from escrow and revert back to such tobacco product manufacturer; or

(c) To the extent not released from escrow under subparagraphs (a) or (b), funds shall be released from escrow and revert back to such tobacco product manufacturer twenty-five years after the date on which they were placed into escrow.

(3) Each tobacco product manufacturer that elects to place funds into escrow pursuant to this subsection shall annually certify to the attorney general that it is in compliance with this subsection.  The attorney general may bring a civil action on behalf of the state against any tobacco product manufacturer that fails to place into escrow the funds required under this section.  Any tobacco product manufacturer that fails in any year to place into escrow the funds required under this section shall:

(a) Be required within 15 days to place such funds into escrow as shall bring it into compliance with this section.  The court, upon a finding of a violation of this subsection, may impose a civil penalty to be paid to the general fund of the state in an amount not to exceed 5 percent of the amount improperly withheld from escrow per day of the violation and in a total amount not to exceed 100 percent of the original amount improperly withheld from escrow;

(b) In the case of a knowing violation, be required within 15 days to place such funds into escrow as shall bring it into compliance with this section. The court, upon a finding of a knowing violation of this subsection, may impose a civil penalty to be paid to the general fund in an amount not to exceed 15 percent of the amount improperly withheld from escrow per day of the violation and in a total amount not to exceed 300 percent of the original amount improperly withheld from escrow; and

(c) In the case of a second knowing violation, be prohibited from selling cigarettes to consumers within the state (whether directly or through a distributor, retailer or similar intermediary) for a period not to exceed 2 years.

Each failure to make an annual deposit required under this section shall constitute a separate violation and the violator shall pay to the attorney general the costs and attorney fees incurred during a successful prosecution under paragraph (3).

(c) Notwithstanding subparagraph (b), paragraph 2 of this section, a tobacco product manufacturer that elects to place funds into escrow pursuant to subparagraph (b), paragraph 1 of this section may make an irrevocable assignment of its interest in the funds to the benefit of this state. The assignment shall be permanent and apply to all funds in the escrow account or that may subsequently come into the account, including those funds deposited into the escrow account before the assignment is executed, those funds deposited into the escrow account after the assignment is executed and interest or other appreciation on the funds. The tobacco product manufacturer, the attorney general and the financial institution where the escrow account is maintained may make amendments to the qualified escrow account agreement as may be necessary to effectuate an assignment of rights executed pursuant to this subparagraph or a withdrawal of monies from the escrow account pursuant to subparagraph (b), paragraph 2 of this section.  An assignment of rights executed pursuant to this subparagraph shall be in writing, shall be signed by a duly authorized representative of the tobacco product manufacturer making the assignment and shall become effective on delivery of the assignment to the attorney general and the financial institution where the escrow account is maintained.  An assignment of escrow funds shall not be made by a tobacco product manufacturer unless and until the attorney general provides written approval to the tobacco product manufacturer.

(d) Notwithstanding subparagraph (b), paragraph 2 of this section, any escrow funds assigned to the state pursuant to subparagraph (c) of this section shall be withdrawn by the state on the approval of the attorney general. Any funds withdrawn pursuant to this subparagraph shall be deposited in the consumer protection-consumer fraud revolving fund established by section 44-1531.01 and shall be calculated on a dollar-for-dollar basis as a credit against any judgment or settlement described in subparagraph (b), paragraph 2 of this section that may be obtained against the tobacco product manufacturer that has assigned the funds in the escrow account. This section does not relieve a tobacco product manufacturer from any past, current or future obligations that the manufacturer may have pursuant to this section or section 44-7111.

Section 4. Effect of judicial action.

If section 3, subparagraph (b), paragraph 2, subdivision (b) is held by a court of competent jurisdiction to be unconstitutional, the following provisions apply in its place:

To the extent that a tobacco product manufacturer establishes that the amount it was required to place into escrow in a particular year was greater than the state's allocable share of the total payments that such manufacturer would have been required to make in that year under the master settlement agreement (as determined pursuant to section IX(i)(2) of the master settlement agreement, and before any of the adjustments or offsets described in section IX(i)(3) of that agreement other than the inflation adjustment) had it been a participating manufacturer, the excess shall be released from escrow and revert back to such tobacco product manufacturer; or

Any holding of unconstitutionality or the repeal of section 3, subparagraph (b), paragraph 2, subdivision (b) of this statute does not impair or invalidate any other portion of this statute or the application of this statute to any other person or circumstance and the remaining portions of this statute continue in full force and effect.

Any holding that federal law preempts or prohibits the application of any other provision of section 44-7101 in one or more circumstances does not impair or invalidate the statute's application in any other circumstance.
A.R.S. § 44-1482 — Arizona Code / Title 44 / Chapter 10 / Article 5 / Section 1482
44-1482 Unsolicited commercial fax advertisements; definition
Status: in_force

44-1482. Unsolicited commercial fax advertisements; definition

A. Each unsolicited commercial fax advertisement shall include the name, address, fax number and toll free or local contact telephone number of the vendor that sends the fax.

B. Any person who receives an unsolicited commercial fax advertisement may contact the vendor that sent the fax and request that no further faxes be sent.  On receiving a request that no further faxes be sent, a vendor shall have three business days to update its records. If the vendor continues to send unsolicited commercial faxes three business days after the person requests not to receive further faxes, the person may charge the vendor five dollars for each faxed page received.

C. This section shall not be construed to alter or restrict any rights a person may have under federal law to recover for the sending of an unsolicited commercial fax advertisement by a vendor.

D. For the purposes of this section, "vendor" means any individual, corporation, business trust, partnership, association or other legal entity.
A.R.S. § 44-1218 — Arizona Code / Title 44 / Chapter 9 / Article 2 / Section 1218
44-1218 Fraudulent or mock auction; classification; forfeiture of license and disqualification of auctioneer
Status: in_force

44-1218. Fraudulent or mock auction; classification; forfeiture of license and disqualification of auctioneer

A. A person who obtains money or property from another, or obtains the signature of another to a written instrument, the false making of which would be forgery, by means of a false or fraudulent sale of property or pretended property by auction, or by any practice known as a mock auction, is guilty of a class 6 felony.

B. A person convicted of a violation of subsection A of this section shall forfeit his license as auctioneer, and shall be forever disqualified from receiving a license to act as auctioneer.
A.R.S. § 44-3212 — Arizona Code / Title 44 / Chapter 13 / Article 7 / Section 3212
44-3212 Notice of an opportunity for a hearing; time of hearing
Status: in_force

44-3212. Notice of an opportunity for a hearing; time of hearing

A. Before entering an order denying, suspending or revoking the license of an investment adviser or investment adviser representative pursuant to article 6 of this chapter, the commission shall send to the investment adviser or investment adviser representative, and, if an investment adviser representative, to the investment adviser who employs or intends to employ the investment adviser representative, a notice of a hearing or notice of an opportunity for a hearing.

B. Before entering an order to cease and desist or an order for rescission, restitution or penalties, the commission shall serve on each respondent a notice of a hearing or a notice of an opportunity for a hearing. The commission by rule may provide for temporary cease and desist orders if the public welfare requires immediate action.

C. Notice of a hearing or notice of an opportunity for a hearing shall be served as prescribed by rules adopted by the commission for service of subpoenas and cease and desist orders.  The notice shall contain a statement of the matters to be considered.  A notice of an opportunity for a hearing shall state that the person to whom the notice is sent will be afforded a hearing on request to the commission if the request is made in writing within ten days after receipt of the notice.

D. If a person requests a hearing in accordance with this article, the commission shall set a date, time and place for the hearing and shall immediately notify the person requesting the hearing of the date, time and place for the hearing.  The date set for the hearing shall be within sixty days, but not earlier than twenty days after the request for a hearing has been made, unless otherwise agreed to by both the commission and the person requesting the hearing.

E. If the hearing is initiated by the commission the notice of the hearing shall specify the date, time and place of the hearing and the date of the hearing shall be within twenty days of the date of the notice of the hearing.
A.R.S. § 44-7032 — Arizona Code / Title 44 / Chapter 26 / Article 2 / Section 7032
44-7032 Secure electronic records
Status: in_force

44-7032. Secure electronic records

If, through the ongoing application of a security procedure, it can be demonstrated that an electronic record signed by a secure electronic signature has remained unaltered since a specified time, the record is a secure electronic record from that time of signing forward.
A.R.S. § 44-2084 — Arizona Code / Title 44 / Chapter 12 / Article 18 / Section 2084
44-2084 Right to written interrogatories
Status: in_force

44-2084. Right to written interrogatories

In any private action arising under this chapter in which the plaintiff may recover money damages, if requested by a defendant, the court shall submit to the jury a written interrogatory on the issue of each defendant's state of mind at the time of the alleged violation.
A.R.S. § 44-1503 — Arizona Code / Title 44 / Chapter 10 / Article 6 / Section 1503
44-1503 Posting of minimum and maximum rates
Status: in_force

44-1503. Posting of minimum and maximum rates

A. An owner or operator of an establishment within the scope of this article shall not post or maintain posted on any outdoor or outside advertising sign pertaining to the establishment any rates for accommodations in the establishment unless the sign has posted thereon both the minimum and maximum room or other rental unit rates for accommodations offered for rental. All posted rates and descriptive data on such sign shall be in type and material of the same size and prominence.

B. This section shall not be held to be complied with by signs stating the rate per person or bearing the legend "and up".
A.R.S. § 44-1799.93 — Arizona Code / Title 44 / Chapter 11 / Article 25 / Section 1799.93
44-1799.93 Direct primary care provider; acceptance and discontinuance of patients
Status: in_force

44-1799.93. Direct primary care provider; acceptance and discontinuance of patients

A. A direct primary care provider may not decline to accept a new direct primary care patient or discontinue care to an existing patient solely because of the patient's health status.  A direct primary care provider may not charge different fees for comparable services based on a patient's health status or gender.

B. A direct primary care provider may decline to accept a patient if the provider has reached maximum capacity or if the patient's medical condition is such that the provider is unable to provide the appropriate level and type of primary care services the patient requires.

C. A direct primary care provider may discontinue care for a direct primary care patient in any of the following circumstances:

1. The patient fails to pay the periodic fee.

2. The patient has performed an act of fraud.

3. The patient repeatedly fails to adhere to the recommended treatment plan.

4. The patient is abusive and presents an emotional or physical danger to the staff or other patients of the direct primary care provider.

5. The direct primary care provider discontinues practicing as a direct primary care provider.

6. The direct primary care provider changes the services offered or the scope of practice provided to patients.

7. The direct primary care provider gives a thirty-day written notice to the patient terminating the direct primary care agreement.
A.R.S. § 44-1799.05 — Arizona Code / Title 44 / Chapter 11 / Article 17 / Section 1799.05
44-1799.05 Purchaser remedies for sale of unfit cats or dogs; requirements; exceptions
Status: in_force

44-1799.05. Purchaser remedies for sale of unfit cats or dogs; requirements; exceptions

A. A cat or dog that is purchased from a pet dealer is considered to be unfit for sale if either of the following applies:

1. Within fifteen days after the purchaser takes possession of the animal, a veterinarian who is licensed pursuant to title 32, chapter 21, states in writing that in the veterinarian's opinion the cat or dog has become ill or otherwise symptomatic due to any illness, injury or other defect that existed in the animal before the purchaser took possession of the animal.

2. Within sixty days after the purchaser takes possession of the animal, a veterinarian who is licensed pursuant to title 32, chapter 21 states in writing that the animal has a congenital or hereditary condition that adversely affects the health of the animal or that requires or is likely to require hospitalization or nonelective surgical procedures.

B. The veterinary statement that is required pursuant to subsection A shall contain the following information:

1. The purchaser's name and address.

2. The date or dates on which the cat or dog was examined.

3. The type, breed and age of the cat or dog, if known.

4. A verification that the veterinarian examined the cat or dog.

5. A statement that the cat or dog had an illness or congenital or hereditary problem that rendered the cat or dog unfit for sale or that resulted in the cat's or dog's death.

6. The findings of the examination or necropsy, including laboratory results or copies of laboratory reports.

C. If a cat or dog is unfit for sale pursuant to subsection A, the purchaser may elect one of the following remedies:

1. Return the animal to the pet dealer for a refund of the purchase price, including transaction privilege, sales or similar excise tax.

2. If a replacement animal is available, exchange the animal for an animal of the same species and of equivalent value and receive reimbursement for reasonable veterinary fees for diagnosis and treatment in an amount of not more than the original purchase price of the animal, including transaction privilege, sales or similar excise tax.

3. Retain the animal and receive reimbursement from the pet dealer for reasonable veterinary fees for diagnosis and treatment in an amount of not more than the original purchase price of the animal, including transaction privilege, sales or similar excise tax.

D. The purchaser shall comply with all of the following requirements to obtain the remedies available under this section:

1. Notify the pet dealer in writing that the cat or dog has a medical or health problem, including a congenital or hereditary condition, within five days after a veterinarian who is licensed pursuant to title 32, chapter 21 diagnoses the problem. The purchaser shall provide the pet dealer with the veterinarian's name and telephone number.

2. If the cat or dog is ill or injured or has a congenital or hereditary condition, offer to present the cat or dog to the pet dealer, together with copies of all records that are available to the purchaser regarding the cat's or dog's diagnosis and condition.

3. If the cat or dog dies within fifteen days of the purchase, give the pet dealer the veterinarian's written statement that the cat or dog died from an illness that existed on or before the purchaser took possession of the cat or dog. The presentation of the written statement is sufficient proof to claim reimbursement or replacement pursuant to this section. The purchaser is not required to return the dead cat or dog to the pet dealer.

E. If a cat or dog was unfit for sale and has died or was euthanized by a veterinarian who is licensed pursuant to title 32, chapter 21, the pet dealer shall refund to the purchaser the purchase price, including transaction privilege, sales or similar excise tax.

F. If the purchaser is requesting a refund for reasonable veterinary expenses, an itemized bill of fees shall accompany the veterinarian statement required pursuant to subsection A. The itemized bill shall include fees for examination, diagnosis and treatment.

G. Unless the pet dealer contests the demand for remedies, the pet dealer shall pay refunds and shall reimburse veterinary expenses within thirty days after receiving the veterinarian's statement or, if applicable, within thirty days after the date on which the cat or dog is returned to the pet dealer.

H. The purchaser shall not be reimbursed for the purchase price or veterinary fees if any of the following applies:

1. The cat's or dog's illness or death resulted from maltreatment or neglect or from an injury that the cat or dog sustained after the purchaser took possession of the cat or dog.

2. The purchaser failed to carry out the recommended treatment prescribed by the veterinarian who made the initial diagnosis. This paragraph does not apply if the cost of the treatment together with the veterinarian's fees would exceed the purchase price of the cat or dog, including transaction privilege, sales or similar excise tax.

3. At the time of sale, the purchaser received the veterinary statement pursuant to subsection A and the statement disclosed the disease, illness or condition for which the purchaser seeks to return the cat or dog.

4. The purchaser refuses to return to the pet dealer all of the documents that were provided to the purchaser for the purpose of registering the cat or dog.

I. The value of veterinary medical services is deemed to be reasonable if the services rendered are appropriate for the diagnosis and treatment of an illness or congenital or hereditary condition and are comparable to the value of similar services rendered by other licensed veterinarians.
A.R.S. § 44-1353 — Arizona Code / Title 44 / Chapter 9 / Article 11 / Section 1353
44-1353 Replacement of assistive device; refund of monies; transfer of possession; limitations; disclosure
Status: in_force

44-1353. Replacement of assistive device; refund of monies; transfer of possession; limitations; disclosure

A. A consumer, as defined in section 44-1351, paragraph 5, subdivision (a), (b) or (c), shall notify the manufacturer of a nonconformity. Within thirty days after receiving notification of a nonconformity, the manufacturer shall provide the consumer with a comparable assistive device or a refund. After receiving the new assistive device or refund, the consumer shall return to the manufacturer the assistive device that has the nonconformity including any endorsements necessary to transfer physical possession to the manufacturer.

B. A consumer, as defined in section 44-1351, paragraph 5, subdivision (d), shall notify the assistive device lessor and manufacturer of a nonconformity. Within thirty days after receiving notification of a nonconformity, the manufacturer shall provide the consumer with a comparable assistive device or a refund. After receiving the refund or comparable assistive device, the consumer shall return to the manufacturer the assistive device that has the nonconformity.

C. An assistive device lessor shall offer to transfer possession to the manufacturer of the assistive device that has the nonconformity. Within thirty days after receiving the offer, the manufacturer shall provide the assistive device lessor with a refund. After receiving the refund, the assistive device lessor shall provide the manufacturer with any endorsements necessary to transfer legal possession to the manufacturer.

D. A person shall not enforce the lease against the consumer after the consumer receives a refund pursuant to this section.

E. An assistive device returned by a consumer or assistive device lessor in this state or by a consumer or assistive device lessor in another state under a similar provision shall not be sold or leased again in this state unless full written disclosure of the reasons for the return is made to the prospective buyer or lessee.
A.R.S. § 44-305 — Arizona Code / Title 44 / Chapter 3 / Article 1 / Section 305
44-305 Dormancy charge
Status: in_force

44-305. Dormancy charge

A holder, except an agency of this state, may deduct from property presumed abandoned a charge imposed by reason of the owner's failure to claim the property within a specified time if there is a valid and enforceable written contract between the holder and the owner under which the holder may impose the charge and the holder regularly imposes the charge and the charge is not regularly reversed or otherwise canceled.  The amount of the deduction is limited to an amount that is not unconscionable.
A.R.S. § 44-1373.03 — Arizona Code / Title 44 / Chapter 9 / Article 17 / Section 1373.03
44-1373.03 Violation; civil penalty
Status: in_force

44-1373.03. Violation; civil penalty

A. A person or entity that knowingly or intentionally violates section 44-1373, subsection A, paragraph 2 is subject to a civil penalty of one hundred dollars for each violation.

B. All civil penalties received pursuant to this section shall be deposited, pursuant to sections 35-146 and 35-147, in the state general fund.
A.R.S. § 44-1625 — Arizona Code / Title 44 / Chapter 11 / Article 3 / Section 1625
44-1625 Report to sheriff
Status: in_force

44-1625. Report to sheriff

A. A pawnbroker shall make a true, complete and accurate report each day of each article the pawnbroker receives through a reportable transaction. The report shall be delivered within two business days to the sheriff or the sheriff's designee of the county in which the pawnbroker is licensed by mail, hand delivery or electronic means as approved by the sheriff or the sheriff's designee.  For the purposes of this subsection "electronic means" means a computer diskette or modem.

B. The pawnbroker shall make the report of each item received through a reportable transaction on the form provided or approved by the sheriff or the sheriff's designee.

C. The report form provided or approved by the sheriff or his designee shall include at least all of the following:

1. The last, first and middle name of the pledgor or seller.

2. The permanent address and telephone number, if applicable, of the pledgor or seller.

3. The physical description of the pledgor or seller including height, weight, hair and eye color, sex, race and date of birth.

4. The number and type of the identification document presented by the pledgor or seller.

5. An accurate, legible description of each item pledged or sold, including the manufacturer's name, model number, serial number, caliber, size, type of item and any owner applied number, inscription or monogram.

6. The pawnbroker's name and address and the clerk's initials or identifying number.

7. The date and time of the initial pawn or purchase transaction.

8. The type of transaction and initial pawn ticket number.

9. A fingerprint of the pledgor or seller.

D. The pledgor or seller shall sign the report and attest to the following statement that shall appear on the report in ten point bold type:

All information in this report is complete and accurate. I am the owner of the goods described in this report or I am authorized to enter into this pawn or sale transaction on behalf of the owner of the goods described in this report. I understand that I will be guilty of a class 1 misdemeanor if the information in this report is not complete and accurate, if I am not the owner of the goods pledged or sold or if I am not authorized to enter into the pawn or sale transaction on behalf of the owner of the goods.
A.R.S. § 44-6851 — Arizona Code / Title 44 / Chapter 23 / Article 1 / Section 6851
44-6851 Definitions
Status: in_force

44-6851. Definitions

In this chapter, unless the context otherwise requires:

1. "Check" means a draft that is payable on demand and drawn on a financial institution, a cashier's check or a teller's check.

2. "Draft" means an item, other than an instrument, that is an order.

3. "Drawer" means a person who signs or is identified in a draft as a person ordering payment.

4. "Financial institution" means a bank, savings and loan association or credit union that is chartered and supervised under state or federal law.

5. "Holder" means a person, including this state, who is entitled to enforce an instrument.

6. "Maker" means a person who signs or is identified in a note as a person undertaking to pay.

7. "Order" means a written instruction to pay money that is signed by the person giving the instruction. The instruction may be addressed to any person, including this state or the person giving the instruction, or to one or more persons, including this state, jointly or in the alternative but not in succession.

8. "Payee" means a person, including this state, in whose favor an instrument is drawn or made payable.
A.R.S. § 44-1460.05 — Arizona Code / Title 44 / Chapter 10 / Article 3.1 / Section 1460.05
44-1460.05 Exclusive rights; common law rights
Status: in_force

44-1460.05. Exclusive rights; common law rights

A. The registration of a trade name if prior in time to the filing of articles of incorporation or the reservation of a corporate name shall give to the holder of the registered trade name exclusive right to the use of such name.

B. Nothing in this article shall adversely affect the rights or the enforcement of rights in trade names acquired in good faith at any time at common law.
A.R.S. § 44-1793 — Arizona Code / Title 44 / Chapter 11 / Article 13 / Section 1793
44-1793 Contract form; conspicuous statement of costs; duration and cancellation
Status: in_force

44-1793. Contract form; conspicuous statement of costs; duration and cancellation

A. Every contract for health spa services shall be in writing and subject to this article. A copy of the written contract shall be given to the customer at the time the customer signs the contract.

B. A contract for health spa services shall specifically set forth in a conspicuous manner on the top of the first page of the contract the customer's total payment obligation for health spa services to be received pursuant to the contract.

C. Services to be rendered to the customer under the contract shall not extend for more than three years from the date the contract is signed by the customer.

D. A contract for new or increased health spa services may be canceled by the customer for any reason at any time before midnight of the third operating day after the customer received a copy of the contract. In order to cancel a contract the customer shall notify the health spa of cancellation in writing pursuant to subsection I of this section.  All monies paid pursuant to the canceled contract shall be fully refunded within thirty days after receipt of the notice of cancellation. If the customer has executed any credit or loan agreement through the health spa to pay for all or part of health spa services, any such negotiable instrument executed by the customer shall also be returned within thirty days. The contract shall contain a conspicuous notice printed in at least ten-point bold-faced type as follows:

Notice to customer

You are entitled to a copy of this contract at the time you sign it.

You may cancel this contract at any time before midnight of the third operating day after receiving a copy of this contract. If you choose to cancel this contract, you must do one of the following:

1. Send a signed and dated written notice of cancellation by mail to the address listed below.

2. Personally deliver a signed and dated written notice of cancellation to the address listed below.

3. Send a notice of cancellation by email to the email address listed below.

Notice of cancellation should be sent to:

(name of health spa)

(address of health spa)

or sent to:

(email address of health spa.)

If you cancel this contract within the three-day period, you are entitled to a full refund of your money. If the third operating day falls on a Sunday or holiday, notice is timely given if it is mailed, delivered or emailed as specified in this notice on the next operating day. Refunds must be made within thirty operating days of receipt of the cancellation notice by the health spa.

"Operating day" means any calendar day on which patrons may inspect and use the facilities and services of the health spa during a period of at least eight hours.

E. A contract for health spa services shall provide that it is subject to cancellation by notice sent pursuant to subsection I of this section on the customer's death or permanent disability.

F. A contract for health spa services shall provide that it is subject to cancellation by notice sent pursuant to subsection I of this section on the customer's change of permanent residence to a location more than twenty-five miles from the health spa or an affiliated health spa offering the same or similar services and facilities at no additional expense to the customer.

G. A contract for health spa services shall provide that it is subject to cancellation or suspension by notice sent pursuant to subsection I of this section if the customer is a member of the United States military, including a member of the national guard or a reserve unit, and is serving on federal active duty and deployed outside this state. The request for cancellation or suspension must be made by the member or the member's legally designated representative, must include a copy of the member's official military orders or a written verification from the member's commanding officer and must be made within ninety days after the member receives notice of serving on federal active duty and deployment outside this state.  If the contract is suspended under this subsection, the health spa shall not charge any fees to reinstate the contract and shall maintain the original payment obligations set forth in the original contract.  A contract that is suspended under this subsection is subject to cancellation two years after the date of suspension if the customer fails to reinstate the contract.

H. In a cancellation under subsection E, F or G of this section, the health spa may retain the portion of the total contract price representing the services used plus reimbursement for the expenses incurred in an amount not to exceed twenty-five percent of the total contract price.

I. A health spa must notify a customer of the methods to cancel or suspend the customer's contract that are described in paragraphs 1, 2 and 3 of this subsection.  A customer may cancel or suspend the customer's contract by notifying the health spa of the cancellation or suspension by any of the following methods:

1. Mailing a notice to the health spa's address that is specified in the contract.

2. Personally delivering a notice to the health spa's address that is specified in the contract.

3. Emailing a notice to the email address that is specified in the contract or, if there is not an email address specified, to any email address that is used by the health spa for customer service.

4. Using a cancellation option provided by the health spa's website.

5. Using any other manner specified by the contract.
A.R.S. § 44-7805 — Arizona Code / Title 44 / Chapter 35 / Article 1 / Section 7805
44-7805 Establishment of interest rate
Status: in_force

44-7805. Establishment of interest rate

Subject to sections 44-1205 and 44-6002, if applicable, a creditor may establish the contracted interest rate for a credit card account through either of the following:

1. Terms and conditions that contain a stated or variable interest rate.

2. A billing statement generated by the issuer that contains a stated or variable interest rate.
A.R.S. § 44-2122 — Arizona Code / Title 44 / Chapter 12 / Article 19 / Section 2122
44-2122 Audit requirements
Status: in_force

44-2122. Audit requirements

Unless exempted by the commission, an independent certified public accountant who audits the financial statements of an issuer in an audit required pursuant to this chapter shall include, in accordance with generally accepted auditing standards as modified or supplemented by the commission:

1. Procedures designed to provide reasonable assurance of detecting illegal acts that would have a direct and material effect on the determination of financial statement amounts.

2. Procedures designed to identify related party transactions that are material to the financial statements or otherwise require disclosure.

3. An evaluation of whether there is substantial doubt about the ability of the issuer to continue as a going concern during the next fiscal year.
A.R.S. § 44-330 — Arizona Code / Title 44 / Chapter 3 / Article 1 / Section 330
44-330 Rules
Status: in_force

44-330. Rules

The department may adopt rules pursuant to title 41, chapter 6 to carry out this chapter.
A.R.S. § 44-2081 — Arizona Code / Title 44 / Chapter 12 / Article 18 / Section 2081
44-2081 Private securities class action litigation
Status: in_force

44-2081. Private securities class action litigation

A. This section applies in each private action that arises under this chapter and that is brought as a plaintiff class action pursuant to the Arizona rules of civil procedure or any federal or other jurisdictional counterpart to the rules.

B. Each plaintiff seeking to serve as a representative party on behalf of a class shall provide a sworn certification to the court that is signed by the plaintiff, filed with the complaint and includes a statement that:

1. The plaintiff has reviewed the complaint and has authorized its filing.

2. The plaintiff did not purchase the security that is the subject of the complaint at the direction of the plaintiff's counsel or in order to participate in any private action arising under this chapter.

3. The plaintiff is willing to serve as a representative party on behalf of a class, including providing testimony at a deposition or trial.

4. Sets forth all of the plaintiff's transactions involving the security that is the subject of the complaint during the class period specified in the complaint.

5. Identifies any other action under this chapter, the securities act of 1933 (15 United States Code sections 77a through 77bbbb) or the securities exchange act of 1934 (15 United States Code sections 78a through 78ll) filed within three years before the plaintiff signs the certification in which the plaintiff has sought to serve as a representative party on behalf of a class.

6. The plaintiff will not accept any payment for serving as a representative party on behalf of a class beyond the plaintiff's pro rata share of any recovery, except as ordered or approved by the court in accordance with subsection J.

C. The certification filed pursuant to subsection B is not a waiver of the attorney-client privilege.

D. Within twenty days after the date on which the complaint is filed, the plaintiff or plaintiffs shall publish, in a widely circulated national business-oriented publication or wire service, a notice advising members of the purported plaintiff class of the pendency of the action, the claims asserted and the purported class period.  The notice shall include a statement that, within sixty days after the date on which the notice is published, any member of the purported class may move the court to serve as lead plaintiff of the purported class. If more than one action on behalf of a class asserting substantially the same claim or claims arising under this article is filed, only the plaintiff or plaintiffs in the first filed action are required to publish the notice.  The notice is in addition to any notice required pursuant to the Arizona rules of civil procedure or any federal or other jurisdictional counterpart to the rules.  Notwithstanding this subsection, the court may narrow the geographic scope of the publication of the notice required by this subsection, if the court finds that substantially all members of the class would receive notice.

E. Within ninety days after the date on which a notice is published under subsection D the court shall consider any motion made by a purported class member in response to the notice, including any motion by a class member who is not individually named as a plaintiff in the complaint or complaints, and shall appoint the most adequate plaintiff as lead plaintiff. The most adequate plaintiff is that member or members of the purported plaintiff class that the court determines to be most capable of adequately representing the interests of class members in accordance with this subsection.  Subject to subsection F, the court shall adopt a presumption that the most adequate plaintiff in any private action arising under this chapter is the person or group of persons that has either filed the complaint or made a motion in response to a notice under subsection D, in the determination of the court has the largest financial interest in the relief sought by the class and otherwise satisfies the requirements of rule 23 of the Arizona rules of civil procedure or any federal or other jurisdictional counterpart to the rules.

F. The presumption prescribed in subsection E may be rebutted only on proof by a member of the purported plaintiff class that the presumptively most adequate plaintiff will not fairly and adequately protect the interests of the class or is subject to unique defenses that render that plaintiff incapable of adequately representing the class.  A plaintiff may conduct discovery relating to whether a member or members of the purported plaintiff class are the most adequate plaintiff if the plaintiff demonstrates a reasonable basis for a finding that the presumptively most adequate plaintiff is incapable of adequately representing the class.

G. If more than one action on behalf of a class asserting substantially the same claim or claims arising under this chapter has been filed, and any party has sought to consolidate those actions for pretrial purposes or for trial, the court shall not make the determination required by subsection E until after the decision on the motion to consolidate is rendered.  As soon as practicable after the decision is rendered, the court shall appoint the most adequate plaintiff as lead plaintiff for the consolidated actions in accordance with this section.

H. Subject to the approval of the court, the most adequate plaintiff shall select and retain counsel to represent the class.

I. Except as the court permits and consistent with the purposes of this section, a person may be a lead plaintiff, or an officer, director or fiduciary of a lead plaintiff, in not more than five class actions during any three consecutive years brought as plaintiff class actions pursuant to the Arizona rules of civil procedure or any federal counterpart to the rules.

J. The share of any final judgment or of any settlement that is awarded to a representative party serving on behalf of a class shall be equal on a per share basis to the portion of the final judgment or settlement awarded to all other members of the class.  Nothing in this subsection limits the award of reasonable costs and expenses, including lost wages, directly relating to the representation of the class to any representative party serving on behalf of a class.

K. The terms and provisions of any settlement agreement of a class action shall not be filed under seal, except that on a motion by any party to the settlement, the court may order filing under seal for those portions of a settlement agreement as to which good cause is shown for filing under seal.  For purposes of this subsection, good cause exists if publication of a term or provision of a settlement agreement would cause direct and substantial harm to any party.

L. Attorney fees and costs awarded by the court to counsel for the plaintiff class shall not exceed a reasonable percentage of the amount of any damages and prejudgment interest actually paid to the class.

M. Any proposed or final settlement agreement that is published or disseminated to the class shall include a cover page summarizing the information contained in the settlement agreement and:

1. The amount of the settlement proposed to be distributed to the parties to the action, determined in the aggregate and on an average per share basis.

2. If the settling parties agree on the average amount of damages per share that would be recoverable if the plaintiff prevailed on each claim alleged under this chapter, a statement concerning the average amount of the potential damages per share.

3. If the parties do not agree on the average amount of damages per share that would be recoverable if the plaintiff prevailed on each claim alleged under this chapter, a statement from each settling party concerning the issue or issues on which the parties disagree.

4. If any of the settling parties or their counsel intends to apply to the court for an award of attorney fees or costs from any fund established as part of the settlement, a statement indicating which parties or counsel intends to make the application, the amount of fees and costs that will be sought, including the amount of the fees and costs determined on an average per share basis, and a brief explanation supporting the fees and costs sought.  The cover page of any notice to a party of any proposed or final settlement agreement shall include a clear summary of the information prescribed by this paragraph.

5. The name, telephone number and address of one or more representatives of counsel for the plaintiff class who will be reasonably available to answer questions from class members concerning any matter contained in any notice of settlement published or disseminated to the class.

6. A brief statement explaining the reasons why the parties are proposing the settlement.

7. Other information required by the court.

N. A statement made in accordance with subsection M, paragraph 2 or 3 concerning the amount of damages is not admissible in any federal or state judicial action or administrative proceeding, other than an action or proceeding arising out of the statement.

O. In any private action arising under this chapter that is certified as a class action pursuant to the Arizona rules of civil procedure or any federal or other jurisdictional counterpart to the rules, the court may require an undertaking from the attorneys for the plaintiff class or the plaintiff class, or both, or from the attorneys for the defendant or the defendant, or both, in those proportions and at those times as the court determines are just and equitable, for the payment of fees and expenses that may be awarded under this section.

P. If a plaintiff class is represented by an attorney who directly owns or otherwise has a beneficial interest in the securities that are the subject of the litigation, the court shall make a determination of whether the ownership or other interest constitutes a conflict of interest sufficient to disqualify the attorney from representing the plaintiff class.
A.R.S. § 44-3272 — Arizona Code / Title 44 / Chapter 13 / Article 10 / Section 3272
44-3272 Conservators and receivers
Status: in_force

44-3272. Conservators and receivers

Sections 44-2012 through 44-2017 apply to this chapter.
A.R.S. § 44-1861 — Arizona Code / Title 44 / Chapter 12 / Article 5 / Section 1861
44-1861 Fees; deposit; abandonment
Status: in_force

44-1861. Fees; deposit; abandonment

A. By the affirmative vote of at least four commissioners, the commission may establish by rule an annual fee for the registration of a dealer or a salesman. The fee shall be remitted on or before the last working day of December, and the commission shall deposit the fee, pursuant to sections 35-146 and 35-147, in the securities regulatory and enforcement fund established by section 44-2039.

B. The registration fee for any dealer who deals exclusively in securities of which the dealer is the issuer is one hundred dollars.

C. For registration of securities by description, there shall be paid to the commission a nonrefundable registration fee of one-tenth of one percent of the aggregate offering price of the securities that are to be sold in this state, but in no event shall the registration fee be less than two hundred dollars nor more than two thousand dollars.  The amount by which a registration fee exceeds one thousand five hundred dollars shall be allocated to the office of economic opportunity operations fund established by section 41-5302.

D. By the affirmative vote of at least four commissioners, the commission may establish by rule a transfer fee for a salesman transferring the salesman's registration from one registered dealer to another registered dealer. The commission shall deposit the fee, pursuant to sections 35-146 and 35-147, in the securities regulatory and enforcement fund established by section 44-2039.

E. The initial filing of a form required for safe harbor exemptions provided for in the securities act of 1933 (15 United States Code section 77(a) et seq.) pursuant to the rules of the commission shall be accompanied by a filing fee of two hundred fifty dollars, of which fifty dollars shall be allocated to the office of economic opportunity operations fund established by section 41-5302.  The final filing of the form, if separate from the initial filing, shall be accompanied by a filing fee of one hundred dollars that is allocated to the office of economic opportunity operations fund established by section 41-5302.

F. For a name change of securities registered by qualification or description, a filing fee of one hundred dollars is payable to the commission.

G. For filing a notice required by the commission by rule pursuant to section 44-1845, a filing fee of one hundred dollars is payable to the commission.

H. For filing a petition pursuant to section 44-1846, a filing fee of two hundred fifty dollars is payable to the commission.

I. Except as provided in subsections A, C, D, E and P of this section, section 44-1843 and section 44-1892, paragraph 3, all fees collected under this chapter shall be deposited in the state general fund.

J. An issuer who sells securities in this state in excess of the aggregate amount of securities registered in this state, while the registration is still effective, may apply to register the excess securities by paying three times the difference between the initial registration fee paid and the registration fee required under subsection C of this section or section 44-1892, paragraph 3.  Registration of the excess securities, if granted, is effective retroactively to the date of the existing registration.

K. An application for registration of securities or registration of a dealer or salesman or an incomplete notice filing is deemed abandoned if both:

1. The application or notice filing has been on file with the commission for at least six months or the applicant or notice filer has failed to respond to a request for information for at least two months after the date of the request.

2. The applicant or notice filer has failed to respond to the commission's notice of warning of abandonment within sixty calendar days after the date of the warning.

L. The commission shall retain fees collected in connection with abandoned applications or notice filings for deposit in the state general fund.

M. The nonrefundable filing fee for a request for a no-action letter from the securities division is two hundred dollars.

N. The nonrefundable filing fee for an application for registration pursuant to section 44-1902 is two hundred fifty dollars.

O. The fee for submitting fingerprint cards to the department of public safety is the fee required by that department.

P. Any securities exchange established in this state shall pay to the commission on or before March 15 of each calendar year an exchange registration fee in an amount equal to two-tenths of one cent for each share, bond or option or any other single unit of a security that is exchanged during each preceding calendar year.  The commission shall deposit the fee, pursuant to sections 35-146 and 35-147, in the securities regulatory and enforcement fund established by section 44-2039 for the purpose of regulating the securities exchange.  The commission, by rule, may exempt any sale of securities or any class of sales of securities from the fee imposed by this subsection if it finds that an exemption is consistent with the public interest and the equal regulation of the market and brokers and dealers.
A.R.S. § 44-1799.31 — Arizona Code / Title 44 / Chapter 11 / Article 19 / Section 1799.31
44-1799.31 Definitions
Status: in_force

44-1799.31. Definitions

In this article, unless the context otherwise requires:

1. "Business of shopping cart retrieval" means searching for, gathering and restoring possession to the owner or the owner's agent, for compensation or in expectation of compensation, of shopping carts located outside the premises or parking area of a retail establishment.

2. "Parking area" means a parking lot or other property provided by a retailer for use by a customer for parking any automobile or other vehicle.

3. "Shopping cart" means a basket that is mounted on wheels or a similar device that is generally used in a retail establishment by a customer for the purpose of transporting goods of any kind.
A.R.S. § 44-1038 — Arizona Code / Title 44 / Chapter 8 / Article 3 / Section 1038
44-1038 Filing of statement of claim by creditors
Status: in_force

44-1038. Filing of statement of claim by creditors

Every creditor, consenting to an assignment, shall, within six months from the time of the first publication of the notice of appointment of the assignee, file with the assignee a distinct statement of the particular nature and amount of his claim against the debtor, which shall be supported by an affidavit of the creditor, his agent or attorney, that the statement is true, that the debt is just and that there are no credits or offsets that should be allowed against the claim, except as shown by the statement. No creditor shall take any benefit under any assignment whatever who neglects to file this statement.
A.R.S. § 44-1678 — Arizona Code / Title 44 / Chapter 11 / Article 5 / Section 1678
44-1678 Numbering of inventoried articles; subsequent inventory; intent to defraud
Status: in_force

44-1678. Numbering of inventoried articles; subsequent inventory; intent to defraud

A. No article shall be sold at the auction for which the license was obtained unless there is securely attached to the article sold a tag, card or label bearing accurate reference to the written inventory prescribed in section 44-1674, upon which shall be plainly written or printed a true statement of the kind, quality and weight of the metal of which the article is made or composed and the percentage or karat or purity of such metal. If the article is plated or overlaid, then the label shall contain a true statement of the kind of plate and percentage of purity thereof, and the kind of metal or material covered. If the article is a precious or semiprecious stone, the statement shall contain the true name, weight, quality and fineness thereof. If the article is a watch or clock, the statement shall contain the true name of the manufacturer thereof. If a second-hand or old movement or substitute part or movement of any watch or clock is offered for sale in a new case, such fact shall be set forth in the attached statement, and no such article so sold or offered for sale shall bear any false or misleading name, description or entry thereon.

B. The tag, card or label shall remain securely attached to any article sold or offered for sale, and shall be delivered to the purchaser by the person selling the same as a correct description or representation of the article sold. If there is more than one of the same kind of article to be sold, then the tag, card or label shall indicate the chronological number of the respective articles of the same class sold.

C. No article shall be sold at the auction for which the license was obtained unless it was listed in the inventory accompanying the application, except that such articles may be sold if listed on a supplementary inventory subsequently approved by a majority of the board of supervisors of the county in which the auction is held.

D. It shall be presumptive evidence of intent to defraud or to violate the provisions of this article where goods, wares, merchandise or articles sold or offered for sale under the provisions of this article fail to agree with the description contained on the tag, card or label provided for in this section.
A.R.S. § 44-2034 — Arizona Code / Title 44 / Chapter 12 / Article 16 / Section 2034
44-2034 Evidence of registration or notice filing; lack of registration or notice filing
Status: in_force

44-2034. Evidence of registration or notice filing; lack of registration or notice filing

A certificate signed by the chairman or a member of the commission or by the director and under seal of the commission showing that a notice filing has or has not been filed pursuant to article 4 of this chapter or chapter 13, article 12 of this title or that securities have or have not been registered by description as provided in article 6 of this chapter or registered by qualification as provided by article 7 of this chapter, or that a dealer or salesman has or has not been registered as provided in article 9 of this chapter, shall constitute evidence of the facts so certified and shall be admissible in evidence in any civil or criminal action or proceeding in which the question of such notice filing or registration may be at issue.
A.R.S. § 44-1703 — Arizona Code / Title 44 / Chapter 11 / Article 7 / Section 1703
44-1703 Credit services organizations; prohibited activities
Status: in_force

44-1703. Credit services organizations; prohibited activities

A credit services organization and its salespersons, agents and representatives who sell or attempt to sell the services of a credit services organization shall not do any of the following:

1. Charge or receive monies or other valuable consideration before full and complete performance of the services the credit services organization has agreed to perform for or on behalf of the buyer, unless the credit services organization, in conformity with section 44-1708, has obtained a surety bond issued by a surety company authorized to do business in this state. If a credit services organization is in compliance with this paragraph, the salesperson, agents and representatives who sell the services of the organization are not required to obtain the surety bond provided for in section 44-1708.

2. Charge or receive monies or other valuable consideration solely for referral of the buyer to a retail seller who will or may extend credit to the buyer, if the credit which is or will be extended to the buyer is on substantially the same terms as those available to the general public.

3. Make or counsel or advise a buyer to make any statement which is untrue or misleading and which is known, or which by the exercise of reasonable care should be known, to be untrue or misleading to a consumer credit reporting agency or to any person who has extended credit to a buyer or to whom a buyer is applying for an extension of credit, with respect to a buyer's credit worthiness, credit standing or credit capacity.

4. Make or use any untrue or misleading representations in the offer or sale of the services of a credit services organization or engage, directly or indirectly, in an act, practice or course of business which operates or would operate as a fraud or deception on a person in connection with the offer or sale of the services of a credit services organization.
A.R.S. § 44-1630 — Arizona Code / Title 44 / Chapter 11 / Article 3 / Section 1630
44-1630 False representation
Status: in_force

44-1630. False representation

A person who gives false information or provides false representation as to the person's true identity or as to the person's ownership interest in property in order to receive monies or other valuable consideration from a pawnbroker, second hand dealer, scrap metal dealer or dealer in precious metals and who receives monies or other valuable consideration from a pawnbroker, second hand dealer, scrap metal dealer or dealer in precious metals is guilty of false representation.
A.R.S. § 44-1280 — Arizona Code / Title 44 / Chapter 9 / Article 6 / Section 1280
44-1280 Subpoena; failure to supply information or obey subpoena; confidentiality of information; violation; classification
Status: in_force

44-1280. Subpoena; failure to supply information or obey subpoena; confidentiality of information; violation; classification

A. The county attorney or attorney general, in addition to other powers conferred on him by this article, may issue and serve in the manner provided under section 13-4072 a subpoena to a custodian of records of a public service corporation as defined by section 40-341 requesting:

1. The name and billing address for a subscriber.

2. The physical location of the service address assigned to a subscriber.

3. The long-distance service provider.

4. Subscriber credit information.

B. If a custodian of records of a public service corporation fails or refuses to fully comply with a subpoena issued under this section, the county attorney or attorney general may file a petition with the superior court and, after notice and hearing on the petition, request the following orders until the custodian of records complies:

1. Adjudging the custodian of records or corporation in contempt of court.

2. Granting such other relief as the court deems proper.

3. Granting reasonable attorney fees to the state or county.

C. If the county attorney or attorney general determines that disclosure to the custodian of records of a public service corporation of the evidence relied on to establish reasonable cause would not be in the best interests of the investigation, he may request and the court may examine the evidence in camera and thereafter make its determination.

D. A person releasing information obtained pursuant to this section, except in the proper discharge of official duties, is guilty of a class 2 misdemeanor.
A.R.S. § 44-1449 — Arizona Code / Title 44 / Chapter 10 / Article 3 / Section 1449
44-1449 Classification of goods or services
Status: in_force

44-1449. Classification of goods or services

A single application for registration of a mark may include all goods and services on which the mark is actually being used in one or multiple classes. The following general classes of goods and services are established for convenience of administration of this article, but not to limit or extend the applicant's or registrant's rights:

1. Chemical products used in industry, science, photography, agriculture, horticulture or forestry; artificial and synthetic resins; plastics for industrial use in the form of powders, liquids or pastes; natural and artificial manures; fire extinguishing compositions; tempering substances and chemical preparations for soldering; chemical substances for preserving foodstuffs; tanning substances; adhesive substances used in industry.

2. Paints, varnishes and lacquers; preservatives against rust and against deterioration of wood; coloring matters and dyestuffs; mordants; natural resins; metals in foil and powder form for painters and decorators.

3. Bleaching preparations and other substances for laundry use; cleaning, polishing, scouring and abrasive preparations; soaps; perfumery, essential oils, cosmetics and hair lotions; dentifrices.

4. Industrial oils and greases except oils and fats and essential oils; lubricants; dust laying and absorbing compositions; fuels, including motor spirit and illuminants; candles, tapers, night-lights and wicks.

5. Pharmaceutical, veterinary and sanitary substances; infants' and invalids' food; plasters and material for bandaging; material for stopping teeth, dental wax and disinfectants; preparations for killing weeds and destroying vermin.

6. Unwrought and partly wrought common metals and the metals' alloys; anchors, anvils, bells and rolled and cast building materials; rails and other metallic materials for railway tracks; chains, except driving chains for vehicles; nonelectric cables and wires; locksmiths' work; metallic pipes and tubes; safes and cash boxes; steel balls; horseshoes; nails and screws; other goods in nonprecious metal that are not included in other classes; ores.

7. Machines and machine tools; motors, except motors for land vehicles; machine couplings and belting, except couplings and belting for land vehicles; large size agricultural implements; incubators.

8. Hand tools and instruments; cutlery, forks and spoons; side arms.

9. Scientific, nautical, surveying and electrical apparatus and instruments, including wireless apparatus and instruments; photographic, cinematographic, optical, weighing, measuring, signaling, checking, supervision, life-saving and teaching apparatus and instruments; coin or counterfreed apparatus; talking machines; cash registers; calculating machines; fire extinguishing apparatus.

10. Surgical, medical, dental and veterinary instruments and apparatus, including artificial limbs, eyes and teeth.

11. Installations for lighting, heating, steam generating, cooking, refrigerating, drying, ventilating, water supply and sanitary purposes.

12. Vehicles; apparatus for locomotion by land, air or water.

13. Firearms; ammunition and projectiles; explosive substances; fireworks.

14. Precious metals and the metals' alloys; goods in precious metals or coated with precious metals, except cutlery, forks and spoons; jewelry and precious stones; horological and other chronometric instruments.

15. Musical instruments except talking machines and wireless apparatus.

16. Paper and paper articles and cardboard and cardboard articles; printed matters, newspapers and periodicals and books; bookbinding material; photographs; stationery and stationery adhesive materials; artists' materials; paintbrushes; typewriters and office requisites, except furniture; instructional and teaching material, except instructional and teaching apparatus; playing cards; printers' type and cliches or stereotype.

17. Gutta percha, India rubber, balata and substitutes and articles made from these substances and not included in other classes; plastics in the form of sheets, blocks and rods for use in manufacturing; materials for packing, stopping or insulating; asbestos, mica and asbestos or mica products; nonmetallic hose pipes.

18. Leather, imitations of leather and articles made from leather and imitations of leather that are not included in other classes; skins and hides; trunks and traveling bags; umbrellas, parasols and walking sticks; whips, harnesses and saddlery.

19. Building materials, natural and artificial stone, cement, lime, mortar, plaster and gravel; pipes of earthenware or cement; roadmaking materials; asphalt, pitch and bitumen; portable buildings; stone monuments; chimney pots.

20. Furniture, mirrors and picture frames; articles of wood, cork, reeds, cane, wicker, horn, bone, ivory, whalebone, shell, amber, mother-of-pearl, meerschaum or celluloid, substitutes for all of these materials, or of plastics and that are not included in other classes.

21. Small domestic utensils and containers, except utensils and containers of precious metals or utensils and containers coated with precious metals; combs and sponges; brushes, except paintbrushes; brushmaking materials; instruments and material for cleaning purposes and steel wool; unworked or semiworked glass, except glass used in building; glassware, porcelain and earthenware that is not included in other classes.

22. Ropes, string, nets, tents, awnings, tarpaulins, sails and sacks; padding and stuffing materials, including hair, kapok, feathers and seaweed; raw, fibrous textile materials.

23. Yarns and threads.

24. Tissues that are piece goods; bed and table covers; textile articles that are not included in other classes.

25. Clothing, including boots, shoes and slippers.

26. Lace, embroidery, ribands and braid; buttons, press buttons, hooks, eyes, pins and needles; artificial flowers.

27. Carpets, rugs, mats and matting; linoleums and other materials for covering existing floors; nontextile wall hangings.

28. Games and playthings; gymnastic and sporting articles, except gymnastic and sporting clothes; ornaments and decorations for Christmas trees.

29. Meats, fish, poultry and game; meat extracts; preserved, dried and cooked fruits and vegetables; jellies and jams; eggs, milk and other dairy products; edible oils and fats; preserves and pickles.

30. Coffee, tea, cocoa, sugar, rice, tapioca, sago and coffee substitutes; flour and preparations made from cereals; bread, biscuits, cakes, pastry and confectionery; ices; honey and treacle; yeast and baking powder; salt, mustard, pepper, vinegar, sauces and spices.

31. Agricultural, horticultural and forestry products and grains that are not included in other classes; living animals; fresh fruits and vegetables; seeds; live plants and flowers; foodstuffs for animals; malt.

32. Beer, ale and porter; mineral waters, aerated waters and other nonalcoholic drinks; syrups and other preparations for making beverages.

33. Wines, spirits and liqueurs.

34. Raw or manufactured tobacco; smokers' articles; matches.

35. Computers and computer software.

36. Advertising and business.

37. Insurance and financial.

38. Construction and repair.

39. Communication.

40. Transportation and storage.

41. Material treatment.

42. Education and entertainment.

43. Miscellaneous.
A.R.S. § 44-1613 — Arizona Code / Title 44 / Chapter 11 / Article 2 / Section 1613
44-1613 Unlawful moving practices
Status: in_force

44-1613. Unlawful moving practices

A. Except as provided in section 44-1614, after taking possession of a consumer's household goods, a household goods mover may not refuse to deliver or unload a consumer's household goods or enforce, or threaten to enforce, a carrier's lien against a consumer's household goods when providing household goods moving services for an intrastate move. For the purposes of this subsection, a written estimate or contract that includes disclosure of a carrier's lien does not constitute threatening to enforce a carrier's lien.

B. Any advertisement or representation by a household goods mover relating to:

1. Insurance, loss or damage must accurately disclose the extent to which the referenced insurance and the household goods mover will cover loss or damage incurred during household goods moving services.

2. Fees, charges and rates must accurately disclose all fees, charges and rates.

C. An act or practice in violation of this article constitutes an unlawful practice under section 44-1522. The attorney general may investigate and take appropriate action as prescribed by chapter 10, article 7 of this title.  In addition to being subject to the enforcement and penalty provisions in chapter 10, article 7 of this title, a household goods mover that violates this article is subject to any other civil or criminal action, remedy and penalty provided by law.
A.R.S. § 44-1731 — Arizona Code / Title 44 / Chapter 11 / Article 9 / Section 1731
44-1731 Definitions
Status: in_force

44-1731. Definitions

In this article, unless the context otherwise requires:

1. "Compensation" includes a payment based on a sale or distribution made to a person who either is a participant in a pyramid promotional scheme or has the right to become a participant upon payment.

2. "Consideration" means the payment of cash or the purchase of goods, services or intangible property but does not include:

(a) The purchase of goods or services furnished at cost to be used in making sales and not for resale.

(b) Time and effort spent in pursuit of sales or recruiting activities.

3. "Pyramid promotional scheme" means any plan or operation by which a participant gives consideration for the opportunity to receive compensation which is derived primarily from any person's introduction of other persons into participation in the plan or operation rather than from the sale of goods, services or intangible property by the participant or other persons introduced into the plan or operation.
A.R.S. § 44-1844 — Arizona Code / Title 44 / Chapter 12 / Article 4 / Section 1844
44-1844 Exempt transactions
Status: in_force

44-1844. Exempt transactions

A. Except as provided in subsections B and C of this section, sections 44-1841 and 44-1842, section 44-1843.02, subsections B and C and sections 44-3321 and 44-3325 do not apply to any of the following classes of transactions:

1. Transactions by an issuer not involving any public offering.

2. The sale of securities by an executor, administrator, guardian or conservator or by a bank the business of which is supervised and regulated by an agency of this state or of the United States, as trustee under a will or trust agreement, or by a receiver or trustee in insolvency or bankruptcy approved by a court of competent jurisdiction of this state or the United States.

3. The sale in good faith and not for the purpose of avoiding the provisions of this chapter by a pledgee of securities pledged for a bona fide debt.

4. The sale in good faith and not for the purpose of avoiding the provisions of this chapter of securities, including securities that when originally issued were exempt pursuant to paragraph 22 of this subsection, by the bona fide owner of such securities, other than an issuer or underwriter, in an isolated transaction, in which the securities are sold either directly or through a dealer as agent for the owner but where the sales are not made in the course of repeated or successive transactions of similar character by the owner and are not made directly or indirectly for the benefit of the issuer or an underwriter of the securities. For the purposes of this paragraph, the sale is not considered to be made in the course of repeated or successive transactions of similar character by the owner if both of the following apply:

(a) The sale is of a security that when originally issued was exempt pursuant to paragraph 22 of this subsection.

(b) At least six months have passed after the date of the last sale of the security by the issuer to a resident of this state.

5. The distribution by a corporation of capital stock or other securities to its stockholders or other security holders as a stock dividend or other distribution out of retained earnings.

6. Any transaction or series of transactions incident to a statutory or judicially approved reorganization, merger, triangular merger, consolidation, or sale of assets, incident to a vote by securities holders pursuant to the articles of incorporation, the applicable corporate statute or other controlling statute, a partnership agreement or the controlling agreement among securities holders.

7. The exchange of securities by an issuer with its existing security holders exclusively, where no commission or remuneration is paid or given, directly or indirectly, for soliciting the exchange, if such exchange has been duly authorized and has been approved by the holders of not less than a majority of the outstanding securities of each class affected by the exchange.

8. An offer or sale of securities to a bank, a savings institution, a trust company, an insurance company, an investment company as defined in the investment company act of 1940, a pension or profit sharing trust or other financial institution or institutional buyer or a dealer whether the purchaser is acting for itself or in a fiduciary capacity.

9. The issuance and delivery of securities in exchange for other securities of the same issuer pursuant to a right of conversion entitling the holder of the securities surrendered in exchange to make such conversion.

10. The issuance and delivery of securities of a corporation, limited liability company or limited partnership to the original incorporators, organizers or general partners, not exceeding ten in number, where the securities are not acquired by the incorporators, organizers or general partners for the purpose of sale to others and are not directly or indirectly sold to a third party within twenty-four months unless an incorporator, organizer or general partner experiences a bona fide change of financial circumstances within such time period, providing original incorporators, organizers or general partners are notified of their right pursuant to title 10 or 29 to review the financial books and records of the corporation, limited liability company or limited partnership at reasonable times.

11. A nonissuer transaction in an outstanding security, including the sale by a dealer, including an underwriter no longer acting as an underwriter in respect to the securities involved, of securities sold and distributed to the public, but not including securities constituting an unsold allotment to or subscription by the dealer as a participant in the distribution of the securities by the issuer or by or through an underwriter, if the class of security has been outstanding in the hands of the public for not less than ninety days preceding the date of the transaction and a recognized manual of securities designated by the commission by rule or order at the time of sale contains the names of the issuer's officers and directors, a statement of financial condition of the issuer as of a date within eighteen months of the date of the sale and a statement of income or operations for each of the two fiscal years next before the date of the statement of financial condition or for the period from the commencement of the issuer's existence to the date of the statement of financial condition if the period is less than two years.

12. The sale by a dealer, including an underwriter no longer acting as an underwriter in respect to the securities involved, of securities of an issue sold and distributed to the public, but not including securities constituting an unsold allotment to or subscription by the dealer as a participant in the distribution of the securities by the issuer or by or through an underwriter, if securities of such issue have been registered by description under sections 44-1871 through 44-1875 or registered by qualification under sections 44-1891 through 44-1902.

13. The sale of commodity investment contracts traded on a commodities exchange recognized by the commission at the time of sale.

14. The sale or issuance of any investment contract or other security in connection with an employee's pension, profit sharing, stock purchase, stock bonus, savings, thrift, stock option or other similar employee benefit plan that meets the requirements for qualification under the United States internal revenue code.

15. Transactions within the exclusive jurisdiction of the commodity futures trading commission as granted under the commodity exchange act.

16. Transactions involving the purchase of one or more precious metals that require, and under which the purchaser receives, within seven calendar days after the payment in good funds of any portion of the purchase price, physical delivery of the quantity of the precious metals purchased by such payment.  For the purposes of this paragraph, physical delivery is deemed to have occurred if, within such seven day period, the quantity of precious metals purchased by such payment is delivered, whether in specifically segregated or fungible bulk form, into the possession of a depository other than the seller which is a financial institution, a depository the warehouse receipts of which are recognized for delivery purposes for any commodity on a contract market designated by the commodity futures trading commission or a storage facility licensed or regulated by the United States or any agency of the United States and such depository or other person that qualifies as a depository issues and the purchaser receives a certificate, document of title, confirmation or other instrument evidencing that such quantity of precious metals has been delivered to the depository and is being and will continue to be held by the depository on the purchaser's behalf, free and clear of all liens and encumbrances, other than liens of the purchaser, tax liens, liens agreed to by the purchaser, or liens of the depository for fees and expenses, that have previously been disclosed to the purchaser.  For the purposes of this paragraph, "financial institution" means a bank, savings institution or trust company organized under, or supervised pursuant to, the laws of the United States or of this state.

17. Transactions involving a commodity investment contract solely between persons engaged in producing, processing, using commercially or handling as merchants each commodity subject to the contract or any by-product.

18. A nonissuer transaction in an outstanding security, including the sale by a dealer, including an underwriter no longer acting as an underwriter in respect to the securities involved, of securities sold and distributed to the public, but not including securities constituting an unsold allotment to or subscription by the dealer as a participant in the distribution of the securities by the issuer or by or through an underwriter if both of the following apply:

(a) The class of security has been outstanding in the hands of the public for not less than ninety days preceding the date of the transaction.

(b) The securities are listed on an automated quotation system of a national securities association registered under the securities exchange act of 1934.

19. Transactions involving the sale of securities to persons who are not residents of this state and are not present in this state if all of the following conditions are met:

(a) The securities being offered are not blind pool offerings.

(b) At least ten days before the offering date:

(i) The issuer certifies that the securities being offered will be offered and sold in compliance with the securities act of 1933 and the laws and regulations of those states in which the offers and sales will be made.

(ii) The issuer files as a notice filing one copy of any offering materials that may be required by the SEC or the laws and rules of those states in which the offers and sales will be made.

(iii) The issuer submits a filing fee of $200.

(c) Within ten working days of completion of the offering the issuer files a description of the actions taken as to compliance with the securities act of 1933 and the laws and rules of those states in which the offers and sales were made.

(d) The transaction complies with any rule adopted by the commission further restricting the exemption created by this paragraph to prevent any fraudulent practices.

20. Transactions involving offers or sales of one or more promissory notes directly secured by a first lien on a single parcel of real estate on which is located a dwelling or other residential or commercial structure and participation interest in those notes that are exempt under section 4(5) of the securities act of 1933.

21. Offerings of securities of not more than $1,000,000 or the limit established under 17 Code of Federal Regulations section 230.504 as follows:

(a) An unlimited number of sophisticated purchasers may be involved.

(b) Written offering documents providing full and adequate disclosure of material facts must be provided to each purchaser.

(c) Advertising is not allowed without a waiver from the director.

(d) The sum of the following amounts may not exceed the greater of $1,000,000 or the limit established under 17 Code of Federal Regulations section 230.504:

(i) The dollar value for the amount of securities being offered.

(ii) The aggregate offering price of all securities of the issuer sold within the twelve months before the date of the offering.

(iii) The aggregate offering price of all securities of the issuer sold during the course of the offering if the securities were sold in reliance on 15 United States Code section 77c(b) or in violation of 15 United States Code section 77e(a).

(e) Provisions on offerings to sophisticated purchasers are as follows:

(i) An offering to sophisticated purchasers under this section allows sales to either an accredited investor as defined in 17 Code of Federal Regulations section 230.501 or a person, acting alone or with a purchaser representative, who the dealer reasonably believes has the knowledge and experience in financial and business matters to be capable of evaluating the merits and risks of the proposed investment.  The dealer must reasonably believe that the person has knowledge and experience before a person becomes a purchaser.

(ii) The issuer shall display the following notice on the cover page of the disclosure document in a conspicuous manner in at least twelve-point boldface type:

In making an investment decision, investors shall rely on their own examination of the issuer and the terms of the offering, including the merits and risks involved. These securities have not been recommended by any federal or state securities commission or division or regulatory authority. Furthermore, the foregoing authorities have not confirmed the accuracy or determined the adequacy of this document. Any representation to the contrary is a criminal offense. These securities are subject to restrictions on transferability and resale and may not be transferred or resold, except as allowed by 17 Code of Federal Regulations and applicable state securities laws, pursuant to registration or exemption from registration.  Investors must be aware that they are required to bear the financial risks of this investment for an indefinite period of time.

(f) One copy of the notice on form D filed with the SEC is filed with the commission not later than fifteen calendar days after the first sale of securities in or from this state.

(g) An offering to purchasers under this section allows all of the following:

(i) Sales to be made only by a dealer who is not the issuer and who is registered in this state.

(ii) The dealer to conduct the sales if the dealer reasonably believes that adequate diligence and review have been applied in connection with the offering and the dealer adequately determines the suitability of the offering to a purchaser.

(iii) Sales if the dealer reasonably believes that the security is suitable for the purchaser after reasonable inquiry concerning the purchaser's investment objectives, financial situation and needs and after consideration of any other information known by the dealer.

(h) The exemption may not be used if an issuer or person affiliated with the issuer or offering is subject to disqualification pursuant to any of the following:

(i) This chapter.

(ii) A rule or order of the commission.

(iii) The securities act of 1933 (15 United States Code section 77c(a)(11)).

(iv) The securities act of 1933, 17 Code of Federal Regulations section 230.262.

(i) The commission may set aside disqualification if:

(i) On a showing of good cause and without prejudice to any other action by the commission, the commission determines that it is not necessary that an exemption be denied under the circumstances.

(ii) The issuer establishes that it made a factual inquiry into whether any disqualification existed under subdivision (h) of this paragraph but did not know and could not have known with the exercise of reasonable care that a disqualification existed.  The nature and scope of the requisite inquiry will vary based on the circumstances of the subject issuer and the other offering participants.

22. Transactions involving an intrastate offering, including crowdfunding or virtual coin offerings, if all of the following conditions are met:

(a) The issuer is authorized to do business in this state.

(b) The transaction meets the requirements of the federal exemption for intrastate offerings under 15 United States Code section 77c(a)(11) or 17 Code of Federal Regulations section 230.147 or 230.147A, or any subsequently amended or expanded versions of those sections. For the purposes of this chapter, a corporation, partnership, trust or other form of business organization is not deemed to be organized for the specific purpose of acquiring securities offered under 17 Code of Federal Regulations section 230.147 or 230.147A if the corporation, partnership, trust or other form of business organization either:

(i) Was created before January 1, 2018.

(ii) Invests ninety-five percent or less of its investable assets in offerings authorized by this chapter.

(c) The issuer obtains from each prospective purchaser evidence that the prospective purchaser is a resident of this state and, if applicable, is an accredited investor. A prospective purchaser's residence shall be determined in accordance with 17 Code of Federal Regulations section 230.147(d) or 230.147A(d). If the purchaser is an entity, an affirmative representation made by the entity that the entity is a resident of this state is sufficient evidence that the entity is a resident of this state if the entity also submits proof that the entity is incorporated or organized in this state, is qualified as a resident pursuant to any of the categories identified in 17 Code of Federal Regulations section 230.147(c)(1) or 230.147A(c)(1) or uses an internet protocol address originating from this state to purchase the offering. If the purchaser is an individual, an affirmative representation made by the individual that the individual is a resident of this state is sufficient evidence that the individual is a resident of this state if the individual also submits proof of any of the following:

(i) The individual has a valid driver license or nonoperating identification license issued pursuant to title 28.

(ii) The individual is registered to vote in this state.

(iii) General property tax records show the individual owns and occupies property in this state as the individual's principal residence.

(iv) The individual uses an internet protocol address originating from this state to purchase the offering.

(d) The issuer informs all purchasers that the securities have not been registered and that the securities are subject to the limitation on resales contained in either:

(i) 17 Code of Federal Regulations section 230.147(e), in the manner described in 17 Code of Federal Regulations section 230.147(f).

(ii) 17 Code of Federal Regulations section 230.147A(e), in the manner described in 17 Code of Federal Regulations section 230.147A(f).

(e) Before an offer is made in reliance on this exemption, the issuer pays a filing fee to be prescribed by the director and files a notice with the director, in writing or in electronic form, that contains all of the following:

(i) The name of the issuer, including the issuer's type of entity and the address and telephone number of the issuer's principal office.

(ii) The intended use of the offering proceeds, including any amounts to be paid, as compensation or otherwise, to any owner, executive officer, director, managing member or other person occupying a similar status or performing similar functions on behalf of the issuer.

(iii) The identity of all persons who will be involved in the offer or sale of securities on behalf of the issuer.

(iv) The identity of each person that owns more than ten percent of the ownership interests of any class of securities of the issuer.

(v) The identity of the executive officers, directors and managing members of the issuer and any other individuals who occupy similar status or perform similar functions in the name of and on behalf of the issuer.

(vi) Notice that the issuer is claiming this exemption for the transaction.

(vii) The name and location, whether physical or virtual, of the bank, institution or other repository in which investor monies or proceeds, or both, from the offering will be deposited.

(f) If the information contained on the notice required in subdivision (e) of this paragraph becomes inaccurate for any reason, the issuer files an amendment in writing with the director within thirty days.

(g) All dollar-denominated monies received from investors are deposited into a bank or depository institution authorized to do business in this state, and all such monies are used in accordance with representations made to investors.

(h) The sum of all cash and other consideration to be received as a result of an offering under this exemption does not exceed $5,000,000 in a twelve-month period.

(i) The issuer and any persons affiliated with the issuer or offering are not subject to disqualification pursuant to this chapter, a rule or order of the director, 15 United States Code section 77c(a)(11) or 17 Code of Federal Regulations section 230.262. The director may set aside disqualification if both of the following apply:

(i) On a showing of good cause and without prejudice to any other action by the director, the director determines that it is not necessary that an exemption be denied under the circumstances.

(ii) The issuer establishes that the issuer made a factual inquiry into whether any disqualification existed and did not know and could not have known in the exercise of reasonable care that a disqualification existed.  The nature and scope of the requisite inquiry will vary based on the circumstances of the subject issuer and the other offering participants.

(j) The issuer does not accept more than $10,000 from any single purchaser unless the purchaser is an accredited investor under 17 Code of Federal Regulations section 230.501.

23. Transactions by an issuer, its parent or subsidiary companies, and their respective directors, managers, general partners, officers and employees acting as such to offer or sell securities of the issuer pursuant to Regulation A, 17 Code of Federal Regulations section 230.251(a)(2), in which the sum of the aggregate offering price and aggregate sales does not exceed $75,000,000, including not more than $22,500,000 offered by all selling security holders that are affiliates of the issuer.

B. Subsection A, paragraph 11 of this section does not apply to either of the following:

1. Sales by a dealer or salesman who is not registered in this state.

2. Solicited sales to or purchases from a resident of this state by a dealer who does not have, before the initial solicitation, a written new account form signed by the resident or a customer agreement signed by the resident and a previous sale or purchase of a security with the resident.

C. The commission may by order revoke or suspend the exemption under subsection A, paragraph 11 or 18 of this section with respect to any securities or the use of the exemption under subsection A, paragraph 11 of this section by any dealer if it finds that the further sale in this state of the securities or by the dealer would work, or tend to work, a fraud or deceit on the purchaser.

D. A purchaser engaging in an offering that complies with subsection A, paragraph 22 of this section shall not be considered an underwriter, unless the purchaser purchases more than fifty percent of the securities or virtual coins offered for sale in the offering.

E. The issuer and all other parties involved in an offering that complies with subsection A, paragraph 22 of this section may agree that any controversy or claim arising out of or relating to the offering shall be resolved by private arbitration between the parties and the agreement shall be enforceable by the laws of this state.

F. Notwithstanding any other provision of this chapter, the director may enter into agreements with federal, state or foreign regulators to allow securities issued or sold in this state to be sold in another jurisdiction and securities issued or sold in another jurisdiction to be issued or sold in this state.

G. Except as provided in subsection H of this section, a person who facilitates the exchange of a virtual coin shall not be deemed to be a dealer or a person who otherwise deals in securities under this chapter and is not subject to this chapter or chapter 13 of this title  due to the exchanged virtual coin if both of the following are met:

1. The person has a reasonable and good faith belief that the virtual coin subject to exchange does not meet the definition of a virtual coin offering.

2. The person takes reasonably prompt action to terminate the person's facilitation of the exchange of the virtual coin after obtaining knowledge that the virtual coin meets the definition of a virtual coin offering.

H. Sections 44-1991 and 44-3241 apply to a person described in subsection G of this section.

I. The director may adopt rules based on 17 Code of Federal Regulations section 230.504 and revise the rules as necessary to keep them current with the federal law.
A.R.S. § 44-1414 — Arizona Code / Title 44 / Chapter 10 / Article 1 / Section 1414
44-1414 Order compelling testimony or production of evidence; immunity; contempt
Status: in_force

44-1414. Order compelling testimony or production of evidence; immunity; contempt

A. In any proceeding or investigation under this article, if a person refuses to answer a question or produce evidence of any kind on the ground that he may be incriminated and if the attorney general or county attorney requests the court in writing to order the person to answer the question or produce the evidence, the court may make this order and the person shall comply with the order. If the court denies the request, the court shall state its reasons for denial in writing. After complying, the testimony or evidence, or any information directly or indirectly derived from the testimony or evidence, shall not be used against the person in any proceeding or prosecution for a crime or offense concerning which he gave an answer or produced evidence under the court order, except that immunity obtained pursuant to this section does not prevent or in any way affect the bringing of an action under section 44-1408. Immunity obtained pursuant to this section does not exempt any person from prosecution, penalty or forfeiture for any perjury, false swearing or contempt committed in answering, or failing to answer, or in producing, or failing to produce, evidence in accordance with the order.

B. If a person refuses to testify after being granted immunity and after being ordered to testify as prescribed in subsection A of this section, he may be adjudged in contempt.
A.R.S. § 44-329 — Arizona Code / Title 44 / Chapter 3 / Article 1 / Section 329
44-329 Transitional provisions
Status: in_force

44-329. Transitional provisions

A. An initial report filed pursuant to this chapter for property that was not required to be reported before January 1, 2001 but that is subject to this chapter shall include all items of property that would have been presumed abandoned within ten years before January 1, 2001 as if this chapter had been in effect during that period.

B. This chapter does not relieve a holder of a duty that arose before January 1, 2001 to report, pay or deliver property. Except as provided in section 44-321, subsection C, a holder who did not comply with the law in effect before January 1, 2001 is subject to the applicable provisions for enforcement and penalties that were in effect under the prior law.
A.R.S. § 44-5005 — Arizona Code / Title 44 / Chapter 15 / Article 1 / Section 5005
44-5005 Transfer
Status: in_force

44-5005. Transfer

A. A note or other evidence of indebtedness given by a buyer in respect of a home solicitation sale shall be dated not earlier than the date of the agreement or offer to purchase. Any transfer of a note or other evidence of indebtedness bearing the statement required by subsection B of this section shall be deemed an assignment only and any right, title or interest which the transferee may acquire thereby shall be subject to all claims and defenses of the buyer against the seller pursuant to the provisions of this chapter and sections 44-144 and 44-145.

B. Each note or other evidence of indebtedness given by a buyer in respect of a home solicitation sale shall bear on its face a conspicuous statement as follows: "This instrument is based upon a home solicitation sale, which is subject to the provisions of title 44, chapter 15. This instrument is not negotiable."

C. Compliance with the requirements of this section shall be a condition precedent to any right of action by the seller or any transferee of an instrument bearing the statement required under subsection B of this section against the buyer upon such instrument and shall be pleaded and proved by any person who may institute an action or suit against a buyer in respect thereof.
A.R.S. § 44-407 — Arizona Code / Title 44 / Chapter 4 / Article 1 / Section 407
44-407 Effect on other laws
Status: in_force

44-407. Effect on other laws

A. Except as provided in subsection B, this chapter displaces conflicting tort, restitutionary and other laws of this state providing civil remedies for misappropriation of a trade secret.

B. This chapter does not affect:

1. Contractual remedies, whether or not based on misappropriation of a trade secret.

2. Other civil remedies that are not based on misappropriation of a trade secret.

3. Criminal remedies, whether or not based on misappropriation of a trade secret.
A.R.S. § 44-1799.62 — Arizona Code / Title 44 / Chapter 11 / Article 22 / Section 1799.62
44-1799.62 Municipality and county powers; public inspection exception; violation; classification
Status: in_force

44-1799.62. Municipality and county powers; public inspection exception; violation; classification

A. Municipalities and counties may:

1. Administer and enforce this article for amusement rides in their respective jurisdictions.

2. Establish reasonable and necessary fees to administer and enforce this article.  The fees shall not exceed fees charged for business licenses or temporary use permits for similar temporary businesses.

3. Request from each amusement ride owner or operator, a sponsor, lessor or landowner or any other person responsible for an amusement ride information to determine that the insurance required by this article is in effect and that the amusement ride has been inspected at least annually.

4. Review and retain other records necessary to establish compliance with this article, including insurance certificates or policies, inspection certificates and reports, permits, licenses, maintenance records, injury records and operational records.  The records listed in this paragraph are not subject to public inspection.  Records may be disclosed on written consent of the owner, on receipt of a court order or if required by law.  Any person who knowingly discloses any record or other information in violation of this section is guilty of a class 3 misdemeanor.

B. Municipalities and counties that elect to administer and enforce this article shall collect fees and review information at the time of the application for a permit.  The application shall be submitted at least thirty days before a scheduled public operation of the amusement ride.

C. A permit is only valid in the municipality or county for which it is issued.
A.R.S. § 44-1003 — Arizona Code / Title 44 / Chapter 8 / Article 1 / Section 1003
44-1003 Value
Status: in_force

44-1003. Value

A. Value is given for a transfer or an obligation if, in exchange for the transfer or obligation, property is transferred or an antecedent debt is secured or satisfied, but value does not include an unperformed promise to furnish support to the debtor or another person unless the promise is made in the ordinary course of the promisor's business.

B. For the purposes of section 44-1004, subsection A, paragraph 2 and section 44-1005, a person gives a reasonably equivalent value if the person acquires an interest of the debtor in an asset pursuant to a regularly conducted, noncollusive foreclosure sale or execution of a power of sale for the acquisition or disposition of the interest of the debtor on default under a mortgage, deed of trust or security agreement.

C. A transfer is made for present value if the exchange between the debtor and the transferee is intended by them to be contemporaneous and is in fact substantially contemporaneous.
A.R.S. § 44-3101 — Arizona Code / Title 44 / Chapter 13 / Article 1 / Section 3101
44-3101 Definitions
Status: in_force

44-3101. Definitions

In this chapter, unless the context otherwise requires:

1. "Closed-end company" means any management company other than an open-end company or unit investment trust.

2. "Depository institution" means a bank, savings and loan association or trust company whose business is supervised and regulated by an agency of this state or the United States, or an employee, as defined in title 10, chapter 1, of any such bank, savings and loan association or trust company while acting within the scope of the employee's employment.

3. "Federal covered adviser" means an investment adviser registered under the investment advisers act of 1940.

4. "IARD" means the investment adviser registration depository operated by the national association of securities dealers.

5. "Investment adviser" means any person who, for compensation, engages in the business of advising others, either directly or through publications or writings, as to the value of securities or as to the advisability of investing in, purchasing or selling securities or who, for compensation and as a part of a regular business, issues or promulgates analyses or reports concerning securities.  Investment adviser includes financial planners and other persons who, as an integral component of other financially related services, provide the foregoing investment advisory services to others for compensation and as part of a business or who hold themselves out as providing the foregoing investment advisory services to others for compensation. Investment adviser does not include:

(a) An investment adviser representative.

(b) A depository institution.

(c) A lawyer, law firm, certified public accountant or accounting firm whose performance of the investment advisory services is solely incidental to the practice of the person's profession or who does not do any of the following:

(i) Exercise investment discretion with respect to the assets of clients or maintain custody of the assets of clients for the purpose of investing the assets, except if the person is acting in a bona fide fiduciary capacity such as an executor, trustee, personal representative, estate or trust agent, guardian or conservator.

(ii) Accept or receive directly or indirectly any commission, fee or other remuneration contingent on the purchase or sale of any specific security by a client of the person.

(iii) Give advice on the purchase or sale of specific securities other than advice about specific securities that is based on financial statement analysis or tax considerations that are reasonably related to and in connection with the person's profession.

(d) A publisher, employee or columnist of any newspaper, news column, newsletter, news magazine or business or financial publication or service, whether communicated in hard copy form, by electronic means or otherwise, that does not consist of the rendering of advice on the basis of the specific investment situation of each client.

(e) An insurance company or insurance producer that is licensed or authorized by the department of insurance and financial institutions to transact the business of insurance, including the sale of annuities, whose performance of the investment advisory services is solely incidental to the conduct of business as an insurance company or insurance producer and that receives no special compensation for providing investment advisory services.

(f) A real estate salesperson or real estate broker who is licensed or authorized by the state real estate department to transact the business of real estate, whose performance as an investment adviser is solely incidental to the conduct of the individual's business as a broker or salesman and who receives no special compensation for providing investment advisory services.

(g) Any officer, director, partner or employee of an entity engaged in selling interest in entities that invest in real property, including partnerships, corporations or sole proprietorships, if such transactions are otherwise subject to the securities laws of the United States or this state.

(h) Mortgage brokers or mortgage bankers who are licensed by the department of insurance and financial institutions to transact the business of a mortgage broker or mortgage banker, and their employees, whose performance of any investment advisory service is solely incidental to the conduct of the business of a mortgage broker or mortgage banker and who receives no special compensation for providing investment advisory services.

6. "Investment adviser representative" means any partner, officer or director of an investment adviser, any individual who occupies a status or performs functions similar to a partner, officer or director of an investment adviser or any other individual who is employed by or associated with an investment adviser, except clerical or ministerial personnel, and who does any of the following:

(a) Makes any recommendations or otherwise renders advice regarding securities.

(b) Manages accounts or portfolios of clients.

(c) Determines which recommendation or advice regarding securities should be given to a client if the individual is a member of the investment adviser's investment committee that determines general investment advice to be given to clients or the individual determines general client advice if the investment adviser has no investment committee, except that if an investment adviser has more than five individuals who make recommendations or give advice, only the supervisors of those individuals are investment adviser representatives.

(d) Solicits, offers or negotiates for the sale of or sells investment advisory services.

(e) Directly supervises employees who perform any of the acts described in this paragraph.

7. "Investment advisers act of 1940" means the act of Congress known as the investment advisers act of 1940 (15 United States Code section 80b).

8. "Investment company" means any company that is registered under the investment company act of 1940.

9. "Investment company act of 1940" means the act of Congress known as the investment company act of 1940 (15 United States Code section 80a).

10. "Licensed investment adviser" means an investment adviser licensed under this chapter.

11. "Licensed investment adviser representative" means an investment adviser representative licensed under this chapter.

12. "Open-end company" means a management company that is offering for sale or has outstanding any redeemable security of which it is the issuer.

13. "Solely incidental to the practice of the person's profession" and "solely incidental to the conduct of the person's business" means that the person does not hold itself out to the public as a provider of investment advisory services, the investment advisory services are rendered in connection with and reasonably related to the professional services or business transactions being provided or consummated and the fee charged for the investment advisory services is based on the same factors used by the person to determine the fees for the person's professional or business services.

14. "Unit investment trust" means an investment company that is organized under a trust indenture, contract of custodianship or agency or similar instrument, that does not have a board of directors and that issues only redeemable securities, each of which represents an undivided interest in a unit of specified securities, but does not include a voting trust.