Ariz. Admin. Code § R19-1-407 - Notice of Legal or Equitable Interest
A. To enable the Department to fulfill its
responsibility under A.R.S. §
4-112(B)(3), a person that has a legal or equitable interest in a license issued under
A.R.S. Title 4 and this Chapter shall file with the Department a statement of
the interest. A person filing a statement of legal or equitable interest shall
use a form that is available from the Department.
B. A person that has a legal or equitable
interest in a license issued under A.R.S. Title 4 and this Chapter shall file
with the Department an amended statement of the interest by complying with
subsection (A) when:
1. Any of the
information provided in a previous statement of interest changes, or
2. The person's legal or equitable interest
terminates.
C. To enable
the Department to fulfill its responsibility under A.R.S. §
4-112(B)(3), the Department shall periodically request that the holders of a legal or
equitable interest in a license verify in writing to the Director that the
statement on file with the Department is correct and accurate. If the holder of
a legal or equitable interest in a license fails to respond within 30 days to
the Department's request for verification of interest, the Department shall
deem the interest terminated.
D.
The Department shall provide notice to a person that files a statement of
interest under subsection (A) when there is a disciplinary or compliance action
or transfer affecting the license in which the person has an interest and shall
allow the person to participate in any proceeding regarding the
license.
E. This Section is
authorized by A.R.S. §
4-112(B)(3).
Notes
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