Arizona Laws 6-979. Principal place of business; branch office license; change of address
A. Each licensed commercial mortgage banker shall designate and maintain a principal place of business in this state to transact business. The license shall specify the address of the licensee‘s principal place of business.
Terms Used In Arizona Laws 6-979
- Branch: means any banking office other than the principal banking office. See Arizona Laws 6-101
- Deputy director: means the deputy director of the financial institutions division of the department. See Arizona Laws 6-101
- License: means a license issued under this article. See Arizona Laws 6-971
- Licensee: means a person who is licensed under this article. See Arizona Laws 6-971
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Person: includes a corporation, company, partnership, firm, association or society, as well as a natural person. See Arizona Laws 1-215
B. If a licensee wishes to maintain one or more locations in addition to a principal place of business, the licensee shall first obtain a branch office license from the deputy director and designate a person for each branch office to oversee the operations of that office.
C. If the deputy director determines that the licensee is qualified, the deputy director shall issue a branch office license indicating the address of the branch office. The licensee shall conspicuously display the branch office license in the branch office.
D. If the address of the principal place of business or of any branch office is changed, the licensee shall immediately notify the deputy director of the change and the deputy director shall endorse the change of address on the license.