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Arizona Department of Finance
2910 N 44th Street, Suite 310, Phoenix AZ 85018
(602) 255-4421
Fax: (602) 381-1225
Internet Address: www.azdfi.gov/
Subject: Banking Charter, Savings and Loan Charter, and Credit Union Charter
Comment:
Contact agency for statutory requirements.
Subject:
Consumer Lender
Comment:
The business of making or procuring consumer loans or consumer home equity loans;
license year July 1 - June 30.
Subject:
Debt Management Company
Comment:
Businesses that are compensated to act as an agent for a debtor or for the purpose
of distributing money to the debtor's creditors in full or partial payment of
the debtor's obligation. Application for license and renewal; surety bond; license
year July 1 - June 30.
Subject:
Escrow Agent
Comment:
The business of accepting escrow. Application for license and renewal; surety
bond; contributions to recovery fund; license year October 1 - September 30.
Subject:
Trust Company
Comment:
Accepting and undertaking to perform the duties as a fiduciary. Application
for certification and renewal; capital requirement; indemnity required; license
year January 1- December 31.
Subject:
Collection Agency
Comment:
Soliciting claims for collection or collecting debts in a person's own business
while using a name which would indicate that a third person is collecting or
attempting to collect the debt. Application for license and renewal; surety
bond from $10,000 to $35,000; license year February 1 - January 31.
Subject:
Sales Finance Company
Comment:
The business of purchasing retail installment contracts from one or more retail
sellers; creating and holding retail installment contracts which exceed a total
aggregate outstanding indebtedness of $25,000; secondary motor vehicle transactions
(title loans). Application for license and renewal, license year July 1 - June
30.
Subject:
Motor Vehicle Dealer
Comment:
A person who in any year sells on a non-cash basis, three or more motor vehicles
at retail. Application for license and renewal, license year July 1 - June 30.
Subject:
Premium Finance Company
Comment:
The business of financing insurance premiums, entering into premium finance
agreements with Insurers or otherwise acquiring premium finance agreements.
Application for license or renewal, $25,000 available for business, license
year January 1 - December 31.
Subject:
Deferred Presentment Company - The business of payday loans
Comment:
Net worth requirement $50,000 in cash or cash equivalents. Application and license
and renewal; license year August 1 - July 31.
Subject:
Mortgage Broker
Comment:
The business of making, negotiating or offering to make or negotiate a mortgage
loan for compensation. Application for license and renewal; school/test/experience;
surety bond $10,000 or $15,000, license year October 1- September 30. Course
of study at schools requires approval by the Superintendent.
Subject:
Mortgage Banker
Comment:
The business of making, negotiating or offering to make or negotiate a mortgage
banking loan or mortgage loan for compensation. Application for license and
renewal; experience; net worth requirement, $250,000, ($100,000 if a government
approved lender) surety bond from $25,000 - $100,000; license year April 1 -
March 31.
Subject:
Commercial Mortgage Banker
Comment:
The business of originating commercial mortgage loans, servicing commercial
mortgage loans, or directly or indirectly making, negotiating, or offering to
make or negotiate commercial mortgage loans. Application for license and renewal;
experience; net worth requirement, $100,000; surety bond $25,000 or $100,000,
depending upon whether non-institutional investors are used. License year April
1 - March 31.
Subject:
Money Transmitter
Comment:
A person located or doing business in the state, including a check cashier and
a foreign money exchanger, who also: sells or issues payment instruments; engages
in the business of receiving money to transmit it, or transmits money; engages
in the business of exchanging payment instruments or money into any form of
money or payment instrument. Application for license and renewal; surety bond
$25,000 - $500,000. Net worth requirement $100,000 to 500,000. License year
November 1 - October 31.
Subject:
Advance Fee Loan Broker
Comment:
A person who attempts to make or procure a loan of money or extension of credit.
Application for registration and renewal; registration year, anniversary of
original registration.
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