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.
Structure Arizona Revised Statutes
Title 6 - Banks and Financial Institutions
§ 6-110 - Financial institutions division; deputy director
§ 6-112 - Assistant director; examiners; personnel
§ 6-113 - Acts prohibited; officers; employees
§ 6-114 - Balloon payments prohibited; applicability; exemptions
§ 6-115 - Insurance premium transmitters; timely payment required; civil penalty
§ 6-116 - Sale of securities; disclosure
§ 6-117 - Assumed business name; trade name; notification; definition
§ 6-121 - Examination; supervision
§ 6-122 - Deputy director; authority; duties
§ 6-123 - Deputy director; powers
§ 6-123.01 - Fingerprint requirements; fees
§ 6-124 - Investigations; compelling testimony and the production of documents; self-incrimination
§ 6-126 - Application fees for financial institutions and enterprises
§ 6-127 - Disposition of revenue
§ 6-128 - Joint examinations; acceptance of federal regulatory and other authorized examinations
§ 6-129 - Records; disclosure and limitations on disclosure; evidentiary effect
§ 6-129.01 - Enterprise documents open to public inspection
§ 6-130 - Limitation of personal liability
§ 6-131 - Right to sue and defend in actions; liability limitation; award of fees and other expenses
§ 6-131.01 - Appointment of deputy director as receiver; award of property, fees and costs
§ 6-132 - Violation of title; civil penalty
§ 6-133 - Violations; classification
§ 6-134 - False statements as to financial condition; classification
§ 6-135 - Department revolving fund; use of fund
§ 6-135.01 - Department receivership revolving fund; use of fund
§ 6-136 - Violation of order or injunction; penalty
§ 6-137 - Cease and desist orders; injunctions; public inspection
§ 6-143 - Exempt persons and transactions
§ 6-144 - Acquisition of control; approval of deputy director
§ 6-145 - Application for approval
§ 6-146 - Material change of fact; filing amended statements
§ 6-147 - Denial of application; grounds
§ 6-148 - Failure to act on application as approval
§ 6-149 - Determination of control of one person by another; hearing; notice
§ 6-161 - Suspension, removal or prohibition; hearing; notice
§ 6-162 - Temporary prohibition; injunction
§ 6-164 - Attorney fees and expenses
§ 6-165 - Enforcement of order
§ 6-181 - Declaration of purposes
§ 6-183 - Rights, powers and privileges of national banks
§ 6-185 - Board of directors' meetings; review; report of failure of quorum to meet
§ 6-186 - Annual audit and report
§ 6-187 - Authority to declare dividends; limitation
§ 6-188 - Bonds and insurance; coverage
§ 6-189 - Capital obligations; approval; convertibility
§ 6-190 - Bank offices; standards and term of approval; closing; automated teller machines
§ 6-193 - Bank and holding company subsidiaries; powers
§ 6-201 - Authority to engage in banking business; exception
§ 6-203 - Application for banking permit; organizational application; final application
§ 6-205 - Term of permit; surrender; revocation
§ 6-212 - Resulting national bank
§ 6-215 - Retention of nonconforming assets; permission; maximum value
§ 6-216 - Continuation of business and corporate entity
§ 6-217 - Emergency acquisition of in-state financial institution
§ 6-232 - Powers of attorney; notice of revocation; payment after notice
§ 6-233 - Adverse claim to bank deposit; court order required; definitions
§ 6-234 - Deposit of minor; school saving plan
§ 6-235 - Bank deposits in two or more names; payment to survivor
§ 6-236 - Payment of deposits in trust
§ 6-237 - Payment of deposit to foreign personal representative
§ 6-241 - Banking days; notice; closing
§ 6-242 - Preservation of bank records; regulations; disposal
§ 6-243 - Acquisition of property to satisfy or protect loans
§ 6-244 - Borrowing by bank; treatment as capital
§ 6-245 - Pledge of assets; rediscount; exception to requirement of security
§ 6-246 - Permitted investments; limitations
§ 6-271 - Reserves against deposits; rule; limitations
§ 6-272 - Deposits exempt from reserve requirement
§ 6-273 - Form of reserves; limitations
§ 6-275 - Computation of reserves
§ 6-322 - Interstate acquisitions; approval of deputy director; exception
§ 6-324 - De novo entry by certain financial institutions
§ 6-325 - Failure to act on application as approval
§ 6-326 - Denial of application; grounds
§ 6-327 - Applicable laws and rules; cooperative agreements; contracting exemption
§ 6-328 - Deposit concentration limits
§ 6-329 - Deposit production offices
§ 6-330 - Rights, powers and privileges of out-of-state banks
§ 6-352 - Limitations of obligations to a bank; exceptions; definitions
§ 6-353 - Obligations of directors, officers and employees; reports
§ 6-354 - Loans on capital stock or capital obligations of a bank
§ 6-381 - Authority of bank to engage in the trust business
§ 6-382 - Powers of bank as fiduciary
§ 6-383 - Identification and segregation of fiduciary assets
§ 6-384 - Deposit of fiduciary funds
§ 6-385 - Substitution of corporate fiduciary
§ 6-386 - Investment by fiduciaries; governmental obligations
§ 6-391 - Unauthorized conduct of banking business; false representation
§ 6-395 - Possession by deputy director and receivership
§ 6-395.01 - Powers of deputy director in possession
§ 6-395.02 - Federal deposit insurance corporation as receiver
§ 6-395.03 - Federal deposit insurance corporation power pending judicial proceedings
§ 6-395.04 - Right of subrogation of federal deposit insurance corporation
§ 6-395.05 - Effect of receivership proceedings on liens and limitations
§ 6-395.06 - Rights, powers and duties of a receiver
§ 6-395.07 - Sale of bank assets; authority to borrow monies; injunction; hearing
§ 6-395.08 - Rejection of contracts and leases on liquidation
§ 6-395.09 - Notice to claimants on liquidation
§ 6-395.10 - Disposition of unclaimed property
§ 6-395.11 - Priority of claims; interest
§ 6-395.12 - Payment of claims and distribution to stockholders on liquidation
§ 6-395.13 - Voluntary liquidation and dissolution
§ 6-395.14 - Voidable transactions
§ 6-395.15 - Notice of taking; effect
§ 6-402 - Scope of chapter; application to federal associations and federal savings banks
§ 6-404 - General corporate powers
§ 6-405.01 - Capital notes and debentures
§ 6-407 - Applicants and initial capital
§ 6-408 - Application for permit to organize
§ 6-409 - Findings and hearings
§ 6-410 - Deputy director's approval and issuance of permit to organize
§ 6-411 - Subscription to capital and temporary organization
§ 6-412 - Completion of organization
§ 6-413 - Contents of articles of incorporation
§ 6-416 - Record date for voting, dividend and other purposes
§ 6-420 - Bonds of officers and employees
§ 6-421 - Access to books and records; communication with members
§ 6-422 - Types of capital; personal property
§ 6-424 - Shares of guaranty capital; nature; consideration
§ 6-425 - Shares of guaranty capital; authorization of issuance; minimum amount
§ 6-426 - Shares of guaranty capital; rights of existing shareholders
§ 6-427 - Shares of guaranty capital; advertisement; sales; collection of subscription
§ 6-428 - Retirement or reduction of shares of guaranty capital
§ 6-429 - Issuance, delivery, and transfer of certificates and account books
§ 6-430 - Who may hold capital and membership
§ 6-432 - Effect of payment to minor or fiduciary
§ 6-433 - Payment on disability or death of holder in his own right of account
§ 6-435 - Voluntary withdrawal of accounts
§ 6-437 - Enforced retirement of accounts
§ 6-438 - Authorized charges applicable to members
§ 6-439 - Accounts subject to liens
§ 6-440 - Apportionment of profits
§ 6-442 - Dividends and interest
§ 6-444 - Promotional activities prohibited; definitions
§ 6-446 - Other investments and powers
§ 6-449 - General loan contract provisions
§ 6-450 - Modification agreements
§ 6-452 - Purchase of real or personal property at forced sale
§ 6-453 - Purchase of real estate for office and rental purposes
§ 6-454 - Appraisal of real estate owned
§ 6-456 - Effect of unauthorized investments and loans; liability of officers
§ 6-459 - Amendment of articles of incorporation
§ 6-460 - Procedure to amend articles of incorporation
§ 6-461 - Existing associations; adoption of articles and by-laws
§ 6-462 - Conversion from state to federal association
§ 6-463 - Conversion from federal to state association
§ 6-464 - Effect of conversion
§ 6-465 - Merger of associations or corporations
§ 6-467 - Authority to liquidate
§ 6-468 - Decision to liquidate; adoption of plan
§ 6-469 - Election of liquidators; report; supervision
§ 6-470 - Protection and liquidation of assets
§ 6-471 - Filing and payment of claims
§ 6-472 - Final distribution and dissolution
§ 6-474 - Accounting practices and records
§ 6-477 - Audit by public accountant
§ 6-478 - Reports to deputy director and members
§ 6-479 - Information to federal authorities
§ 6-482 - Receiver; appointment; transfer of assets; powers; liability
§ 6-483 - Procedure for liquidation; rights of share transferor
§ 6-484 - Illegal use of name; classification
§ 6-486 - Rehabilitation of associations; definition
§ 6-487 - Proposal of plan; petition; notice of hearing
§ 6-488 - Hearing; fairness of plan
§ 6-489 - Consents required for plan to operate; exceptions
§ 6-490 - Time of giving consents; jurisdiction of court
§ 6-491 - Effect of approval and consents
§ 6-493 - Securities defined; power to issue under plan
§ 6-494 - Authority of fiduciaries
§ 6-495 - Reservation of powers to legislature
§ 6-496 - Applicability of other statutes
§ 6-497 - Effect on existing associations
§ 6-502 - Reports and examinations
§ 6-503 - Accounting and records
§ 6-505 - Declaration of purpose
§ 6-506 - Organization procedure
§ 6-507 - Certificate of approval; filing with corporation commission; certificate of incorporation
§ 6-508 - Certificate of organization and bylaws
§ 6-509 - Exclusive use of name; exception
§ 6-510 - Principal place of business; branch office; automated teller machines
§ 6-511 - Out-of-state credit union
§ 6-522 - Organization members
§ 6-523 - Membership applications
§ 6-524 - Termination of membership
§ 6-526 - Calling of special meetings
§ 6-527 - Liability of members
§ 6-531 - Authority and responsibility of directors; voting
§ 6-533 - Compensation of officials
§ 6-534 - Conflicts of interest
§ 6-537 - Certain duties of directors; insurance
§ 6-542 - Suspension and removal of officials
§ 6-543 - Action without meeting
§ 6-556 - Multiple party accounts
§ 6-558 - Member account insurance
§ 6-559 - Savings promotion accounts
§ 6-561 - Purpose and conditions of loans; prepayment penalties
§ 6-562 - Interest rates and other charges
§ 6-571 - Insurance for members
§ 6-573 - Money type instruments
§ 6-576 - Investment authority
§ 6-577 - Authorized investments
§ 6-581 - Transfers to regular reserve
§ 6-582 - Use of regular reserve
§ 6-584 - Voluntary dissolution
§ 6-585 - Involuntary dissolution
§ 6-586 - Distribution of assets of liquidating credit union
§ 6-587 - Merger or consolidation of credit unions
§ 6-588 - Conversion of credit union
§ 6-592 - Purposes; membership
§ 6-593 - Powers of corporate credit union; federal parity
§ 6-594 - Participation in central system
§ 6-603 - License; contents of application; fees; nontransferability
§ 6-604 - Issuance of license; license year; requirements
§ 6-605 - Denial of renewal; suspension; revocation
§ 6-606 - Business limited to licensed locations; restrictions
§ 6-607 - Books; accounts; records; access
§ 6-608 - Annual report of licensee; civil penalty for failure to file
§ 6-609 - Reporting rates; change in rates; quarterly report of deputy director
§ 6-613 - Restrictions; voidable loans
§ 6-615 - Foreign loans; reciprocity
§ 6-631 - Disclosures; penalty
§ 6-633 - Computation of finance charges
§ 6-634 - Precomputation of consumer loan
§ 6-635 - Other allowable fees; annual reporting
§ 6-636 - Insurance securing loan; cancellation; notice
§ 6-639 - Loans from theft or fraud; consumer not responsible; correction of credit information
§ 6-704 - Application for license; bonds; contract
§ 6-705 - Branch offices and agencies
§ 6-707 - Issuance of license; display; renewal
§ 6-708 - Denial; revocation or suspension of license
§ 6-802 - Acknowledgment of report of examination; penalty
§ 6-812 - Foreign corporations
§ 6-813 - License of agent; nontransferable; posting
§ 6-814 - Procedure for licensing; surety bond
§ 6-817 - Refusal to license; suspension; revocation
§ 6-832 - Annual audit; report
§ 6-833 - Seizure of property of impaired escrow agent
§ 6-833.01 - Priority of distribution during receivership
§ 6-834 - Deposit of monies; definition
§ 6-835 - Limit of legal action
§ 6-836 - Commissions; other considerations prohibited
§ 6-837 - Duty of escrow agent to produce escrow records for inspection; violation; classification
§ 6-838 - Surrender of license
§ 6-839 - Continuing jurisdiction
§ 6-840 - Prohibitions; definitions
§ 6-841 - Internal control structure; definition
§ 6-841.01 - Fiduciary duty; notice of returned check
§ 6-841.02 - Liability of title insurer; closing protection letter; definition
§ 6-841.03 - Notice of uninsured monies; rules
§ 6-843 - Disbursements; applicability
§ 6-846 - Making of escrow rates
§ 6-846.01 - Filing of escrow rates
§ 6-846.02 - Justification for escrow rates
§ 6-846.03 - Disapproval of escrow filings
§ 6-846.04 - Deviations in escrow rates; civil penalty
§ 6-852 - Exemptions and allowed activities
§ 6-853 - Certificate required; exceptions
§ 6-854 - Application for certificate
§ 6-854.01 - Articles of incorporation; approval; changes
§ 6-854.02 - Board of directors; number; bylaws
§ 6-856 - Minimum capital; dividends; other requirements
§ 6-857 - Issuance of certificate; hearing
§ 6-859 - Records; audits; preservation of records; protection; insurance; bond; contingency plan
§ 6-863 - Suspension or revocation of certificate
§ 6-864 - Continuing jurisdiction
§ 6-865 - Unsafe condition; receivership
§ 6-866 - Limit of legal action
§ 6-868 - Fidelity bond; requirements
§ 6-869 - Meetings; reports; report of examination; response; penalties
§ 6-870.01 - Acceptance of other examinations; cooperative agreements
§ 6-871 - Establishment of common trust funds
§ 6-873 - Uniformity of interpretation
§ 6-882 - Savings accounts and time deposits; insurance; withdrawal; notice
§ 6-902.01 - Exemption; responsible individual; fees; revocation; rules
§ 6-903 - Licensing of mortgage brokers required; qualifications; application; bond; fees; renewal
§ 6-904 - Issuance of license; renewal; inactive status; branch office license; application; fee
§ 6-905 - Denial, suspension or revocation of licenses
§ 6-906 - Required accounting practices and records; escrow of monies; disclosure
§ 6-907 - Required disclosure to investors
§ 6-908 - Testing committee; testing of applicants; approval by deputy director; definition
§ 6-910 - Noncompliance not to affect validity of loan
§ 6-911 - Active military duty; compensation
§ 6-912 - Certificate of exemption
§ 6-913 - Conversion to commercial mortgage broker license
§ 6-943 - Licensing of mortgage bankers required; qualifications; application; bond; fees; renewal
§ 6-944 - Issuance of license; renewal; branch office license; application; fee
§ 6-945 - Denial, suspension or revocation of licenses
§ 6-948 - Noncompliance not to affect validity of loan
§ 6-949 - Conversion to mortgage broker license
§ 6-973 - Licensing commercial mortgage bankers required; qualifications
§ 6-974 - Application for license; issuance or denial; fees
§ 6-975 - Bond or other security
§ 6-976 - Responsible individual; employees
§ 6-977 - Displaying and using license number
§ 6-979 - Principal place of business; branch office license; change of address
§ 6-980 - Annual renewal; expiration on failure to renew
§ 6-982 - Denial, suspension or revocation of licenses
§ 6-983 - Required accounting practices and records; escrow of monies; disclosure
§ 6-985 - Noncompliance not to affect validity of loan
§ 6-991.03 - Licensing; renewal; qualifications; application; fees
§ 6-991.05 - Denial, suspension or revocation of licenses
§ 6-991.07 - Examination; fee; definition
§ 6-991.08 - Reasonable efforts to secure advantageous loan for borrower
§ 6-991.09 - Mortgage recovery fund; liability limits
§ 6-991.10 - Payments to the mortgage recovery fund
§ 6-991.12 - Notice of claim to judgment debtor; response
§ 6-991.13 - Correction of deficiencies in the application
§ 6-991.14 - Investigation and discovery
§ 6-991.15 - Final decision and order on claim; notice
§ 6-991.17 - Deputy director's standing in court
§ 6-991.18 - Subrogation of rights; collection
§ 6-991.20 - Effect of article on disciplinary action
§ 6-991.21 - Financial services fund; use of fund
§ 6-991.22 - Noncompliance not to affect validity of loan
§ 6-1002 - Legal relationship in use of safe deposit facilities
§ 6-1003 - Change of location of repositories
§ 6-1004 - Tenancy in two or more names
§ 6-1006 - Adverse claims to repository; definitions
§ 6-1007 - Lessee's death or incompetency; revocation of power of attorney
§ 6-1008 - Procedure on death of lessee
§ 6-1009 - Lessor's lien; default of lessee; or failure to surrender
§ 6-1103 - Exempt persons and transactions
§ 6-1104 - Acquisition of control; approval by deputy director
§ 6-1105 - Application for approval
§ 6-1106 - Material change of fact; filing amended statements
§ 6-1107 - Denial of application; grounds
§ 6-1108 - Failure to act on application as approval
§ 6-1109 - Determination of control of one person by another; hearing; notice
§ 6-1113 - Reports; examination; costs
§ 6-1203 - Implementation; fees
§ 6-1204 - Examinations; investigations; records
§ 6-1205 - Multistate supervision
§ 6-1206 - Relationship to federal law
§ 6-1207 - Licensure; prohibition; applicability
§ 6-1208 - Consistent licensure
§ 6-1209 - Application for licensure
§ 6-1210 - Information requirements for certain individuals
§ 6-1213 - License maintenance
§ 6-1214 - Acquisition of control
§ 6-1215 - Notice and information requirements for a change of key individuals
§ 6-1216 - Report of condition
§ 6-1217 - Audited financial statements; certificate of opinion
§ 6-1218 - Authorized delegate reporting
§ 6-1220 - Bank secrecy act reports
§ 6-1222 - Relationship between licensees and authorized delegates
§ 6-1223 - Unauthorized activities
§ 6-1224 - Timely transmission
§ 6-1225 - Refunds; exceptions
§ 6-1226 - Receipts; requirements; exceptions; definition
§ 6-1227 - Net worth requirements; exemption
§ 6-1229 - Maintenance of permissible investments
§ 6-1230 - Types of permissible investments
§ 6-1231 - License suspension and revocation
§ 6-1232 - Authorized delegate suspension and revocation
§ 6-1233 - Cease and desist order
§ 6-1242 - Reports to the attorney general; investigation; violation; classification
§ 6-1302 - Scope of chapter; exemptions
§ 6-1303 - Application for registration
§ 6-1305 - Registration; renewal; reporting requirements
§ 6-1308 - Denial, revocation or suspension of registration
§ 6-1310 - Noncompliance not to affect validity of loan
§ 6-1402 - Licensure required; contents of application; fees; nontransferable; branch office permit
§ 6-1404 - Denial, suspension or revocation of licenses and branch office permits
§ 6-1405 - Issuance of license or branch office permit; license year; requirements
§ 6-1406 - Books and records of premium finance company; access to records
§ 6-1407 - Removal of place of business
§ 6-1408 - Annual report of licensee; civil penalty for failure to file
§ 6-1410 - Form of premium finance agreement; notice
§ 6-1411 - Disclosure requirements
§ 6-1412 - Limitation on interest and other charges
§ 6-1413 - Other charges allowed
§ 6-1414 - Splitting of premium finance agreement prohibited
§ 6-1415 - Cancellation of insurance contract upon default
§ 6-1417 - Servicing of premium finance agreements
§ 6-1418 - Exemption from any filing requirements
§ 6-1501 - Method of taxing national banking associations
§ 6-1502 - Method of taxing banks, investment companies and savings and loan associations
§ 6-1702 - Financial counseling; counselor requirements
§ 6-1703 - Required disclosures; counseling
§ 6-1704 - Reverse mortgage; provisions
§ 6-1705 - Prepayment; repayment conditions
§ 6-1706 - Borrower liability; prohibited practices; investments; annuities