reglab/housing_qa huggingface dataset:
AZ Rev Stat § 6-1406 (2021)
2021 Arizona Revised Statutes|Title 6 - Banks and Financial Institutions|§ 6-1406 - Books and records of premium finance company; access to records

6-1406.  Books and records of premium finance company;  access to records A. A licensee shall maintain books,  accounts and records as prescribed by the deputy director that will enable the deputy director to determine whether the licensee is complying with this article. B. A licensee shall preserve its books,  accounts and records of premium finance transactions for at least three years after making the final entry with respect to any premium finance agreement. The preservation of records in any form authorized by the deputy director constitutes compliance with this section. C. Every licensee shall observe generally accepted accounting principles and practices. D. A licensee shall make any books,  accounts and records that are kept outside of this state available to the deputy director in this state not more than three business days after demand or the deputy director may choose to perform the examination or investigation at the office of the licensee located outside of this state. E. For purposes of this article,  the deputy director or the deputy director's duly authorized representatives shall have access to the offices and places of business,  files,  safes and vaults of all licensees regarding that business or the subject matter of any examination,  investigation or hearing during business hours.
AZ Rev Stat § 6-1407 (2021)
2021 Arizona Revised Statutes|Title 6 - Banks and Financial Institutions|§ 6-1407 - Removal of place of business

6-1407.  Removal of place of business A licensee may change the licensed place of business by giving written notice to the deputy director,  who shall amend the license accordingly.
AZ Rev Stat § 6-1408 (2021)
2021 Arizona Revised Statutes|Title 6 - Banks and Financial Institutions|§ 6-1408 - Annual report of licensee; civil penalty for failure to file

6-1408.  Annual report of licensee;  civil penalty for failure to file A. On or before February 1,  the licensee shall annually file a report under oath and in the form prescribed by the deputy director concerning the business and operations during the preceding calendar year. On good cause shown by a licensee,  the deputy director may extend the time for filing the report for a period not to exceed sixty days. B. If a licensee fails to file the annual report,  the deputy director or any person designated by the deputy director may examine the books,  accounts and records of the licensee and prepare the annual report and the licensee shall be assessed an examination fee as prescribed in section 6-125. C. If a licensee fails to file the annual report within the specified time,  the deputy director may assess a civil penalty for the failure to file unless an extension of time is granted by the deputy director in writing prior to the due date of the annual report. The penalty shall not be more than $25 per day. The licensee shall pay the penalty to the deputy director within thirty days after the assessment.
AZ Rev Stat § 6-1409 (2021)
2021 Arizona Revised Statutes|Title 6 - Banks and Financial Institutions|§ 6-1409 - Effect of revocation, suspension or surrender on preexisting contracts; impairment of contracts

6-1409.  Effect of revocation,  suspension or surrender on preexisting contracts;  impairment of contracts A. A revocation,  suspension or surrender of any license does not impair or affect the obligation of any preexisting premium finance agreement between any licensee and insured. B. If any provision of this article is amended or repealed in a manner that results in a cancellation of any license or right of a licensee to service premium finance agreements the cancellation does not impair or affect the obligation of any preexisting premium finance agreement between the licensee and the insured.
AZ Rev Stat § 6-1411 (2021)
2021 Arizona Revised Statutes|Title 6 - Banks and Financial Institutions|§ 6-1411 - Disclosure requirements

6-1411.  Disclosure requirements Every licensee shall make available to agents,  brokers and managing general agents disclosures as prescribed by title I of the consumer credit protection act (15 United States Code sections 1601 through 1667) in both English and Spanish. All premium finance agreements shall disclose in English and Spanish,  in close proximity to the signature lines,  that the borrower may request the Spanish language disclosure before signing any documents.
AZ Rev Stat § 6-1413 (2021)
2021 Arizona Revised Statutes|Title 6 - Banks and Financial Institutions|§ 6-1413 - Other charges allowed

6-1413.  Other charges allowed A. A licensee may contract for,  and if so contracted for,  may collect a service charge for financing or arranging the financing of premiums under the agreement in an amount not to exceed ten dollars for each premium finance agreement. The service charge need not be refunded on cancellation,  prepayment or acceleration of the agreement. B. A premium finance agreement on a contract providing insurance coverage for an individual,  family or household purpose,  may provide for the payment by the insured of a delinquency charge of five per cent of the delinquent installment or ten dollars,  whichever is less,  on any installment which is in default for a period of five days or more. C. A premium finance agreement on a contract providing insurance coverage for any entity involved in transactions solely for business purposes may provide for the payment by the insured of a delinquency charge of five per cent of the delinquent installment on any installment which is in default for a period of five days or more. D. If the default results in the cancellation of any insurance contract listed in the premium finance agreement,  the premium finance agreement may provide for the payment by the insured of a cancellation charge of fifteen dollars. E. A licensee that receives a check,  draft,  negotiable order of withdrawal or similar instrument drawn on a bank or other depository institution which is offered by an insured in full or partial payment on a premium finance agreement and the instrument is not paid or is dishonored by the institution,  may charge and collect from the insured a bad check charge in the amount of ten dollars or the actual charge made to the premium finance company by the depository institution for the return of the unpaid or dishonored instrument,  whichever is more. F. A premium finance agreement may provide for payment of collection costs,  attorney fees equal to twenty per cent of the outstanding indebtedness and any other charges which arise because of breach of the contract. G. The charges referred to in this section shall not be considered directly or indirectly to be interest or prepaid finance charges for entering into a premium finance agreement. H. A premium finance company shall not,  except as otherwise provided by law,  impose,  take,  receive from,  reserve or charge an insured greater charges than are permitted by this article.
AZ Rev Stat § 6-1414 (2021)
2021 Arizona Revised Statutes|Title 6 - Banks and Financial Institutions|§ 6-1414 - Splitting of premium finance agreement prohibited

6-1414.  Splitting of premium finance agreement prohibited No agent or broker or premium finance company shall induce an insured to become obligated under more than one premium finance agreement for the purpose of obtaining a higher rate of interest than would otherwise be permitted by this chapter or obtaining more than one service charge.
AZ Rev Stat § 6-1415 (2021)
2021 Arizona Revised Statutes|Title 6 - Banks and Financial Institutions|§ 6-1415 - Cancellation of insurance contract upon default

6-1415.  Cancellation of insurance contract upon default A. If a premium finance agreement contains a power of attorney enabling the licensee to cancel any insurance contract or contracts listed in the agreement,  the insurance contract or contracts shall not be cancelled by the licensee unless the cancellation is in accordance with this section. B. The licensee shall mail written notice to the insured at his last known address as shown on the records of the licensee not less than ten days in advance to notify the insured of its intent to cancel the insurance contract unless the default is cured within the ten day period. C. After expiration of the ten day period,  the licensee may cancel the insurance contract or contracts by mailing a notice of cancellation to the insurer. The insurance contract shall be cancelled as if the notice of cancellation had been submitted by the insured himself but without requiring the return of the insurance contract. The licensee shall also mail a notice of cancellation to the insured at his last known address as shown on the records of the licensee. If the provisions of subsection D do not apply to the cancellation of coverage,  the effective date of cancellation under this subsection is the date on which the licensee mails a notice of cancellation to the insurer and the insured. The licensee shall maintain a log or any other record that documents compliance with this section. D. If statutory,  regulatory and contractual restrictions provide that the insurance contract may not be cancelled unless notice is given to a governmental agency,  mortgagee or other third party,  the insurer shall give the prescribed notice on behalf of itself or the insured to any governmental agency,  mortgagee or other third party on or before the fifth business day after the day it receives the notice of cancellation from the licensee. The effective date of cancellation under this subsection shall be as stated in the insurance policy. The insurer shall maintain a log or any other record that documents its receipt of any notice from a licensee as provided by this section.
AZ Rev Stat § 6-1417 (2021)
2021 Arizona Revised Statutes|Title 6 - Banks and Financial Institutions|§ 6-1417 - Servicing of premium finance agreements

6-1417.  Servicing of premium finance agreements A. A licensee may receive and disburse monies in the servicing of premium finance agreements. All monies received in the process of servicing these agreements shall be kept separate,  distinct and apart from funds belonging to the licensee and shall be deposited with a financial institution located in this state or a financial institution in another state that maintains insurance on its deposits by the federal deposit insurance corporation. All funds collected shall remain in the financial institution until remitted to the person entitled to the funds. B. The licensee shall keep a record of all monies collected and the remittance of the monies.
AZ Rev Stat § 6-1418 (2021)
2021 Arizona Revised Statutes|Title 6 - Banks and Financial Institutions|§ 6-1418 - Exemption from any filing requirements

6-1418.  Exemption from any filing requirements No filing is necessary to perfect the validity of the premium finance agreement as a secured transaction as against creditors,  subsequent purchasers,  pledgees,  encumbrancers,  trustees in bankruptcy or their successors or assigns or any other insolvency proceeding under any law.
AZ Rev Stat § 6-1419 (2021)
2021 Arizona Revised Statutes|Title 6 - Banks and Financial Institutions|§ 6-1419 - Rules

6-1419.  Rules The deputy director may adopt rules necessary for the proper conduct of a premium finance company.
AZ Rev Stat § 6-1501 (2021)
2021 Arizona Revised Statutes|Title 6 - Banks and Financial Institutions|§ 6-1501 - Method of taxing national banking associations

6-1501.  Method of taxing national banking associations A. Each national banking association: 1. Shall be taxed on its net income under title 43. 2. Is subject to all other taxes that are authorized by 12 United States Code section 548 and that are levied or imposed by this state or any political subdivision of this state. B. The allowable cost factor that is attributable to exempt income from United States government obligations and municipal bonds shall be determined pursuant to section 43-961,  paragraph 2.
AZ Rev Stat § 6-1502 (2021)
2021 Arizona Revised Statutes|Title 6 - Banks and Financial Institutions|§ 6-1502 - Method of taxing banks, investment companies and savings and loan associations

6-1502.  Method of taxing banks,  investment companies and savings and loan associations Banks,  including national banking associations,  investment companies and savings and loan associations,  including federal savings and loan associations,  are subject to all taxes that are levied or imposed generally on a nondiscriminatory basis,  throughout this state or any political subdivision of this state,  to the same extent as taxes are levied or imposed on other corporations.
AZ Rev Stat § 6-1601 (2021)
2021 Arizona Revised Statutes|Title 6 - Banks and Financial Institutions|§ 6-1601 - Financial institutions data match and data exchange; surrender of assets of delinquent taxpayer; nonliability

6-1601.  Financial institutions data match and data exchange;  surrender of assets of delinquent taxpayer;  nonliability A. Financial institutions may enter into agreements with the department of revenue for data match and data exchange as prescribed by section 42-1207. B. On receipt of a notice of levy,  a financial institution shall encumber or surrender,  as appropriate,  assets held by the financial institution on behalf of a delinquent taxpayer. If the financial institution receives two notices of levy on the same day for the same person,  a levy issued to collect child support pursuant to section 25-521 has priority over a levy issued pursuant to this section. C. Notwithstanding any other law,  a financial institution is not subject to civil liability for either: 1. Disclosing to the department of revenue or its agent a person's financial record pursuant to section 42-1207 or any acts of omission that are inadvertent and made in good faith. 2. Encumbering or surrendering any assets held by the financial institution in response to a notice of levy that is issued by the department of revenue or for any action taken in good faith to comply with this section. D. The remedy under subsection B of this section is limited to collection of delinquent taxes,  penalties and interest.
AZ Rev Stat § 6-1701 (2021)
2021 Arizona Revised Statutes|Title 6 - Banks and Financial Institutions|§ 6-1701 - Definitions

6-1701.  Definitions In this chapter,  unless the context otherwise requires: 1. " Agreement"  means the document that on execution obligates the borrower and originator under the reverse mortgage. 2. " Dwelling"  means a residence that is designed principally for at least one and not more than four families in which the borrower occupies at least one of the units. 3. " Housing counseling agency"  means an agency that is approved by the United States department of housing and urban development to provide reverse mortgage counseling. 4. " Originator"  means a person who regularly makes or brokers reverse mortgages,  including a creditor or broker. 5. " Reverse mortgage"  means a nonrecourse consumer credit obligation to which all of the following apply:  (a) A mortgage,  deed of trust or equivalent consensual security interest securing one or more advances is created in the borrower's principal dwelling. (b) Any principal,  interest or shared appreciation or equity is due and payable only after the borrower dies,  the dwelling is transferred or the borrower ceases to occupy the dwelling as a principal dwelling. This subdivision does not apply in the case of default. (c) Cash advances may be provided to a borrower: (i) Based on the equity or the value in the borrower's owner occupied principal residence. (ii) If loan proceeds are used by the borrower to purchase the borrower's dwelling that secures the reverse mortgage. (d) The consumer credit obligation is not a home equity conversion mortgage insured by the federal housing authority.
AZ Rev Stat § 6-1702 (2021)
2021 Arizona Revised Statutes|Title 6 - Banks and Financial Institutions|§ 6-1702 - Financial counseling; counselor requirements

6-1702.  Financial counseling;  counselor requirements A. Adequate counseling under this chapter must be provided by a counselor who is an independent third party. B. To qualify as an independent third party,  the counselor may not be associated with or compensated,  directly or indirectly,  by a party involved in any of the following: 1. Originating or servicing the reverse mortgage. 2. Funding the loan underlying the reverse mortgage. 3. Selling annuities,  investments,  long-term care insurance or any other type of financial or insurance product. C. Counseling services required pursuant to this chapter shall be provided by housing counseling agencies and by counselors who follow uniform counseling protocols approved by the United States department of housing and urban development.
AZ Rev Stat § 6-1703 (2021)
2021 Arizona Revised Statutes|Title 6 - Banks and Financial Institutions|§ 6-1703 - Required disclosures; counseling

6-1703.  Required disclosures;  counseling A. Before accepting a final and complete application for a reverse mortgage or assessing any fees,  the originator shall: 1. Provide the borrower with a list of at least five housing counseling agencies,  including at least two housing counseling agencies that can provide counseling by telephone. 2. Receive from the borrower or the borrower's authorized representative a certification that the borrower has received counseling from a housing counseling agency. The certification shall be signed by the borrower and the housing counseling agency counselor and shall include the date of the counseling and the name and address of both the counselor and the borrower. The date on the certification must show that the counseling occurred within the six months preceding the borrower accepting a final and complete application for a reverse mortgage. An electronic copy of the housing counseling certification satisfies the requirements of this paragraph. The originator shall maintain the certification in an accurate,  reproducible and accessible format for the term of the reverse mortgage. B. At least ten days before loan closing,  the originator shall make available to the borrower a statement informing the borrower that the borrower's liability under the reverse mortgage is limited and explaining the borrower's rights,  obligations,  remedies with respect to temporary absences from the home,  late payments and payment default by the originator and all conditions requiring satisfaction of the loan obligation. C. Before entering into a reverse mortgage,  an originator shall fully disclose in writing: 1. All costs charged by the originator,  including costs of estate planning,  financial advice and other services that are related to the reverse mortgage but that are not required to obtain the reverse mortgage. The disclosure shall clearly identify which charges are required to obtain the reverse mortgage and which charges are not required to obtain the reverse mortgage. 2. All terms and provisions with respect to insurance,  repairs,  alterations,  payment of taxes,  default reserve,  delinquency charges,  foreclosure proceedings,  anticipation of maturity and any additional and secondary liens. 3. The projected total cost of the reverse mortgage to the borrower based on the projected total future loan balance for at least two projected loan terms. This statement shall include: (a) The cost for a short-term mortgage. (b) The cost for a loan term equaling the actuarial life expectancy of the borrower.
AZ Rev Stat § 6-1704 (2021)
2021 Arizona Revised Statutes|Title 6 - Banks and Financial Institutions|§ 6-1704 - Reverse mortgage; provisions

6-1704.  Reverse mortgage;  provisions A. A reverse mortgage may provide for a fixed or variable interest rate or future sharing between the originator and the borrower of the appreciation in the value of the property,  as agreed on by the originator and the borrower. B. The reverse mortgage agreement shall prominently disclose any interest rate or other fees to be charged during the period that begins on the date that the reverse mortgage becomes due and payable and that ends when repayment in full is made. C. The reverse mortgage may provide for a single lump sum disbursal of monies out of home purchase proceeds and shall provide for future payments to the borrower based on accumulated equity minus any applicable fees and charges according to the method that the borrower selects from among the following: 1. Based on a line of credit. 2. On a monthly basis over a term specified by the borrower. 3. On a monthly basis over a term specified by the borrower and based on a line of credit. 4. On a monthly basis over the tenure of the loan. 5. On a monthly basis over the tenure of the loan and based on a line of credit. D. Except in the case of a fixed rate reverse mortgage,  the proceeds of which are fully disbursed at closing,  the reverse mortgage shall provide that the borrower may convert the method of payment under this section to any other method offered by the lender during the term of the reverse mortgage. E. The reverse mortgage shall contain restrictions that ensure the borrower does not fund any unnecessary costs for obtaining the reverse mortgage,  including any costs of estate planning,  financial advice or other related services. This subsection does not apply to counseling fees paid to a counselor who is qualified under section 6-1702. F. A borrower's principal dwelling securing a reverse mortgage may be held in trust or may be an interest under a life estate or a long-term lease. G. The originator shall make available to the borrower on an annual basis not later than January 31 a statement summarizing the total principal amount paid to the borrower under the loan secured by the reverse mortgage,  the total amount of deferred interest added to the principal and the outstanding loan balance at the end of the preceding year.
AZ Rev Stat § 6-1705 (2021)
2021 Arizona Revised Statutes|Title 6 - Banks and Financial Institutions|§ 6-1705 - Prepayment; repayment conditions

6-1705.  Prepayment;  repayment conditions A. Prepayment,  in whole or in part,  shall be permitted without penalty at any time during the term of a reverse mortgage. B. For the purposes of this section,  penalty does not include: 1. Any fees,  payments or other charges that would otherwise be due when the reverse mortgage becomes due and payable.  2. Any closing costs that the agreement states are owed by the borrower if the borrower repays the reverse mortgage in whole before the date in the agreement,  if the repayment occurs within five years after the date on which the agreement was made. C. A reverse mortgage becomes due and payable if any of the following applies: 1. The property is not the principal residence of at least one borrower. 2. A borrower conveys all of the borrower's title in the property and no other borrower retains title. 3. For a period of longer than twelve consecutive months,  a borrower fails to occupy the property because of physical or mental illness and the property is not the principal residence of at least one other borrower. 4. A borrower does not perform an obligation under the mortgage. D. A reverse mortgage does not become due and payable if the legal title to the property is held in the name of a trust and the occupant of the property uses the property as a principal residence and is a beneficiary of that trust. E. The creditor's or the creditor's assignee's right to collect the outstanding balance of the reverse mortgage under the loan is subject to the applicable statute of limitations for written loan contracts. Notwithstanding any other law,  the statute of limitations begins on either of the following: 1. The date that the reverse mortgage becomes due and payable as specified in the agreement. 2. The date the creditor or the creditor's assignee accelerates the loan due to the borrower's default on a provision in the agreement.