Arizona Laws 44-3324. Notice filing fees
A. When filing its initial notice filing, an open-end company shall pay a nonrefundable notice filing fee for sales to be made during the initial notice period. The open-end company may elect to pay either a minimum fee of two hundred dollars or a maximum fee of three thousand five hundred dollars. If paying the maximum fee, an open-end company is not required to file a sales report at the expiration of the notice period.
Terms Used In Arizona Laws 44-3324
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
- Issuer: means any person who issues or proposes to issue any security, except:
(a) With respect to certificates of deposit, voting-trust certificates, collateral-trust certificates, certificates of interest or shares in an unincorporated investment trust, whether or not of the fixed, restricted management or unit type, issuer means the person or persons performing the acts and assuming the duties of depositor or manager pursuant to the provisions of the trust or other agreement or instrument under which such securities are issued. See Arizona Laws 44-1801
- Month: means a calendar month unless otherwise expressed. See Arizona Laws 1-215
- Open-end company: means a management company that is offering for sale or has outstanding any redeemable security of which it is the issuer. See Arizona Laws 44-3101
- Unit investment trust: means an investment company that is organized under a trust indenture, contract of custodianship or agency or similar instrument, that does not have a board of directors and that issues only redeemable securities, each of which represents an undivided interest in a unit of specified securities, but does not include a voting trust. See Arizona Laws 44-3101
B. An open-end company that renews its notice filing in accordance with section 44-3322, subsection B shall pay both of the following nonrefundable notice filing fees no later than the expiration of the current notice period:
1. For sales to be made during the current fiscal year, the open-end company may elect to pay either a minimum fee of two hundred dollars or a maximum fee of three thousand five hundred dollars. If paying the maximum fee, an open-end company is not required to file a sales report at the time of its next renewal notice filing.
2. A fee for sales that occurred during the prior fiscal year, as those sales are reported pursuant to section 44-3323, subsection C. The fee is equal to one-tenth of one percent of the aggregate dollar amount of securities actually sold in this state during the prior fiscal year minus two hundred dollars, but in no event more than three thousand three hundred dollars. If the maximum fee was previously paid for the prior fiscal year, the open-end company is not required to pay any additional fees under this paragraph.
C. An open-end company that does not renew its notice filing in accordance with section 44-3322, subsection B and that did not previously pay the maximum fee for the notice period shall pay a nonrefundable notice filing fee no later than two months after the expiration of its current notice period for sales that occurred during the prior fiscal year and during the two month period from the end of the prior fiscal year to the expiration of the notice period, as those sales are reported pursuant to section 44-3323, subsection D. The fee is equal to one-tenth of one percent of the aggregate dollar amount of securities actually sold in this state during the prior fiscal year and during the two month period from the end of the prior fiscal year to the expiration of the notice period minus two hundred dollars, but in no event more than three thousand three hundred dollars. If the maximum fee was previously paid for the prior fiscal year, the open-end company is not required to pay any additional fees under this subsection.
D. When filing its initial notice filing, a unit investment trust shall pay a nonrefundable notice filing fee for sales to be made during the initial notice period. The unit investment trust may elect to pay either a minimum fee of two hundred dollars or a maximum fee of three thousand five hundred dollars. If paying the maximum fee, the unit investment trust is not required to file a sales report at the end of the expiration of the notice period.
E. A unit investment trust that elects to renew its notice filing in accordance with section 44-3322, subsection C shall pay both of the following nonrefundable notice filing fees:
1. For sales to be made during the renewal notice period, a unit investment trust may elect to pay either a minimum fee of two hundred dollars or a maximum fee of three thousand five hundred dollars. The fee shall be paid no later than the expiration date of the current notice period. If paying the maximum fee, a unit investment trust is not required to file a sales report within two months after the expiration of the renewal notice period.
2. A fee for sales that occurred during the expiring notice period, as those sales are reported pursuant to section 44-3323, subsection E. The fee shall be equal to one-tenth of one percent of the aggregate dollar amount of securities actually sold in this state by the unit investment trust during the prior notice period minus two hundred dollars, but in no event more than three thousand three hundred dollars. The fee shall be paid no later than two months after the expiration date of the prior notice period. If the maximum fee was previously paid for the expiring notice period, the unit investment trust is not required to pay any additional fees under this paragraph.
F. A unit investment trust that does not renew its notice filing in accordance with section 44-3322, subsection C and that did not previously pay the maximum fee for the notice period shall pay, within two months after the expiration of the notice period, a nonrefundable notice filing fee for sales that occurred during the prior notice period as such sales are reported pursuant to section 44-3323, subsection F. The fee is equal to one-tenth of one percent of the aggregate dollar amount of securities actually sold in this state by the unit investment trust during the prior notice period minus two hundred dollars, but in no event more than three thousand three hundred dollars. If the maximum fee was previously paid for the expiring notice period, the unit investment trust is not required to pay any additional fees under this subsection.
G. An issuer that fails to timely file any sales report required by section 44-3323 shall pay a late filing fee in the amount of two hundred dollars. An issuer that fails to timely pay any notice filing fees required pursuant to this section shall pay the required notice filing fee together with a late payment fee equal to one-half of the amount of the required notice filing fee.
H. The fees collected pursuant to this section shall be deposited as follows:
1. Eighty percent in the securities regulatory and enforcement fund established by section 44-2039.
2. Ten percent in the office of economic opportunity operations fund established by section 41-5302.
3. Ten percent in the investment management regulatory and enforcement fund established by section 44-3298.