Before the execution of a contract or agreement between the buyer and a credit services organization or before the receipt by the credit services organization of monies or other valuable consideration, whichever occurs first, the credit services organization shall provide the buyer with a statement, in writing, containing all the information required by section 44-1705. The credit services organization shall maintain on file or microfilm for a period of two years an exact copy of the statement, personally signed by the buyer, acknowledging receipt of a copy of the statement.

Terms Used In Arizona Laws 44-1704

  • Buyer: means any natural person who is solicited to purchase or who purchases the services of a credit services organization. See Arizona Laws 44-1701
  • Contract: A legal written agreement that becomes binding when signed.
  • Credit services organization: means a person who, with respect to the extension of credit by others, sells, provides, performs or represents that he can or will sell, provide or perform any of the following services in return for the payment of monies or other valuable consideration:

    (a) Improving a buyer's credit record, history or rating. See Arizona Laws 44-1701

  • File: when used in connection with information on any consumer, means all of the information on that consumer recorded and retained by a consumer reporting agency regardless of how the information is stored. See Arizona Laws 44-1691
  • Writing: includes printing. See Arizona Laws 1-215