Terms Used In Arizona Laws > Title 41 > Chapter 55 - Regulatory Sandbox Program

• Action: includes any matter or proceeding in a court, civil or criminal. See Arizona Laws 1-215
• Address: means a mailing address. See Arizona Laws 10-140
• Affiliate: means a person that directly or indirectly, through one or more intermediaries, controls, is controlled by or is under common control with another person. See Arizona Laws 10-2121
• Applicable agency: means a department or agency of this state established by law to regulate certain types of business activity in this state and persons engaged in such business, including the issuance of licenses or other types of authorization, that the attorney general determines would or may regulate a sandbox participant if the person was not a regulatory sandbox participant. See Arizona Laws 41-5601
• Broadband service: means providing access and transport to the internet, computer processing, information storage or protocol conversion at a download rate of at least twenty-five megabits per second and at an upload rate of at least three megabits per second. See Arizona Laws 10-2121
• Class: refers to a group of memberships that have the same rights with respect to voting, dissolution, redemption and transfer. See Arizona Laws 10-3140
• Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
• Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
• Court: means the superior court of this state. See Arizona Laws 10-140
• Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
• Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
• Financial product or service: means a product or service that requires licensure under title 6 or Title 44, Chapter 2. See Arizona Laws 41-5601
• Fraud: Intentional deception resulting in injury to another.
• Generation and transmission cooperative: means a corporation that is organized under this article or that becomes subject to this article as provided in this article. See Arizona Laws 10-2121
• Grand jury: agreement providing that a lender will delay exercising its rights (in the case of a mortgage,
• including: means not limited to and is not a term of exclusion. See Arizona Laws 1-215
• Innovation: means the use or incorporation of new or emerging technology or the reimagination of uses for existing technology to address a problem, provide a benefit or otherwise offer a product, service, business model or delivery mechanism that is not known by the attorney general to have a comparable widespread offering in this state. See Arizona Laws 41-5601
• Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
• Oversight: Committee review of the activities of a Federal agency or program.
• Person: includes a corporation, company, partnership, firm, association or society, as well as a natural person. See Arizona Laws 1-215
• Process: means a citation, writ or summons issued in the course of judicial proceedings. See Arizona Laws 1-215
• Property: includes both real and personal property. See Arizona Laws 1-215
• Prosecute: To charge someone with a crime. A prosecutor tries a criminal case on behalf of the government.
• Regulatory sandbox: means the program established by this chapter that allows a person to temporarily test an innovation on a limited basis without otherwise being licensed or authorized to act under the laws of this state. See Arizona Laws 41-5601
• Sandbox participant: means any person whose application to participate in the regulatory sandbox is approved pursuant to this chapter. See Arizona Laws 41-5601
• Subpoena: A command to a witness to appear and give testimony.
• Test: means to provide products and services as allowed by this chapter. See Arizona Laws 41-5601
• Writing: includes printing. See Arizona Laws 1-215