Arizona Laws 6-1232. Authorized delegate suspension and revocation
A. The director may suspend or revoke the designation of an authorized delegate if the director finds that:
Terms Used In Arizona Laws 6-1232
- Appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant.
- Authorized delegate: means a person that a licensee designates to engage in money transmission on behalf of the licensee. See Arizona Laws 6-1201
- Control: means :
(a) The power to vote, directly or indirectly, at least twenty-five percent of the outstanding voting shares or voting interests of a licensee or person in control of a licensee. See Arizona Laws 6-1201
- Fraud: Intentional deception resulting in injury to another.
- Person: means any individual, general partnership, limited partnership, limited liability company, corporation, trust, association, joint stock corporation or other corporate entity identified by the director. See Arizona Laws 6-1201
- Statute: A law passed by a legislature.
1. The authorized delegate violated this article.
2. The authorized delegate did not cooperate with an examination or investigation by the director.
3. The authorized delegate engaged in fraud, intentional misrepresentation or gross negligence.
4. The authorized delegate is convicted of a violation of a state or federal anti-money laundering statute.
5. The competence, experience, character or general fitness of the authorized delegate or a person in control of the authorized delegate indicates that it is not in the public interest to allow the authorized delegate to provide money transmission.
6. The authorized delegate is engaging in an unsafe or unsound practice. To determine whether an authorized delegate is engaging in an unsafe or unsound practice, the director may consider the size and condition of the authorized delegate’s provision of money transmission, the magnitude of the loss, the gravity of the violation of this article and the previous conduct of the authorized delegate.
B. An authorized delegate may appeal a suspension or revocation pursuant to Title 41, Chapter 6, Article 10.