Advance fee loan brokers shall maintain books, records and accounts in connection with transactions involving the receipt and disbursement of funds received by the advance fee loan broker. The books, records and accounts shall be maintained in accordance with generally accepted accounting practices and shall be subject to inspection at all times by authorized representatives of the deputy director.

Terms Used In Arizona Laws 6-1307

  • Advance fee: means a fee, interest or other consideration directly or indirectly received by a person prior to a loan of money or extension of credit or a commitment to loan money or extend credit being made by the person. See Arizona Laws 6-1301
  • Deputy director: means the deputy director of the financial institutions division of the department. See Arizona Laws 6-101
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