Arizona Laws 32-1127. Qualifying party; responsibility
A. While engaged as a qualifying party for a licensee, the qualifying party may not take other employment that would conflict with the person‘s duties as qualifying party or conflict with the person’s ability to adequately supervise the work performed by the licensee. Such person may act in the capacity of the qualifying party for one additional licensee if one of the following conditions exists:
Terms Used In Arizona Laws 32-1127
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Person: means a corporation, company, partnership, firm, association, trust, society or natural person. See Arizona Laws 32-1101
- Qualifying party: means a person who is responsible for a licensee's actions and conduct performed under the license and who either:
(a) Has an ownership interest in the license. See Arizona Laws 32-1101
1. There is a common ownership of at least twenty-five percent of each licensed entity for which the person acts in a qualifying capacity.
2. One licensee is a subsidiary of another licensee for which the same person acts in a qualifying capacity. For the purposes of this paragraph, "subsidiary" means a corporation of which at least twenty-five percent is owned by the other licensee.
B. While engaged as the qualifying party for a licensee, the qualifying party is responsible for any violation of this chapter by the licensee for licensure regulatory purposes under this chapter. This subsection does not impose personal liability on the qualifying party for a licensee’s violation of this chapter.