Arizona Laws 32-2187. Payments to real estate recovery fund
A. In addition to any other fees, payments shall be made to the real estate recovery fund on application by any person, as follows:
Terms Used In Arizona Laws 32-2187
- Broker: when used without modification, means a person who is licensed as a broker under this chapter or who is required to be licensed as a broker under this chapter. See Arizona Laws 32-2101
- Cemetery broker: means a person other than a real estate broker or real estate salesperson who, for another, for compensation:
(a) Sells, leases or exchanges cemetery property or interment services of or for another, or on the person's own account. See Arizona Laws 32-2101
- Cemetery salesperson: means a natural person who acts on the person's own behalf or through and on behalf of a professional limited liability company or a professional corporation engaged by or on behalf of a licensed cemetery or real estate broker, or through and on behalf of a corporation, partnership or limited liability company that is licensed as a cemetery or real estate broker, to perform any act or transaction included in the definition of cemetery broker. See Arizona Laws 32-2101
- License: means the whole or part of any agency permit, certificate, approval, registration, public report, charter or similar form of permission required by this chapter. See Arizona Laws 32-2101
- Person: means any individual, corporation, partnership or company and any other form of multiple organization for carrying on business, foreign or domestic. See Arizona Laws 32-2101
- Real estate: includes leasehold-interests and any estates in land as defined in Title 33, Chapter 2, articles 1 and 2, regardless of whether located in this state. See Arizona Laws 32-2101
- Salesperson: when used without modification, means a natural person who acts on the person's own behalf or through and on behalf of a professional limited liability company or a professional corporation licensed under this chapter or any person required to be licensed as a salesperson under this chapter. See Arizona Laws 32-2101
1. For an original real estate or cemetery broker‘s license, twenty dollars.
2. For an original real estate or cemetery salesperson‘s license, ten dollars.
B. If, on June 30 of any year, the balance remaining in the real estate recovery fund is less than six hundred thousand dollars, every broker when renewing a real estate or cemetery license during the following license year shall pay, in addition to the license renewal fee, a fee of twenty dollars for deposit in the real estate recovery fund, and every salesperson when renewing a real estate or cemetery license during such year shall pay, in addition to the license renewal fee, a fee of ten dollars for deposit in the real estate recovery fund.