Ariz. Admin. Code § R20-4-928 - Certificate of Exemption Application and Renewal
A. Under A.R.S. §
6-912(C),
upon application for a certificate of exemption, an applicant shall pay a
nonrefundable fee of $300.
B. A
person holding a certificate of exemption shall pay a renewal fee of $150.00 on
or before December 31 of each year. Certificates of exemption not renewed by
December 31 are automatically suspended, and the certificate holder shall not
act as a registered exempt person until the certificate is renewed or a new
certificate is issued pursuant to A.R.S. §
6-912.
While the certificate is suspended, the licensed loan originators sponsored by
the registered exempt person may not transact business as a loan originator. A
registered exempt person may renew an automatically suspended certificate by
paying the renewal fee plus $25.00 for each day after December 31 that a
renewal fee is not received by the Superintendent and applying for renewal as
prescribed by the Superintendent. A certificate of exemption that is not
renewed by January 31 expires. A certificate of exemption shall not be granted
to the holder of an expired certificate of exemption except as provided in
A.R.S. §
6-912
for the issuance of an original certificate of exemption. Each licensed loan
originator that is sponsored by a registered exempt person whose certificate
has expired shall have his or her license placed on inactive status and shall
not transact business in Arizona as a loan originator pursuant to A.R.S. §
6-991.02(M).
C. In addition to the application fee, on
issuance of the certificate of exemption, the Superintendent shall collect the
first year's renewal fee prorated according to the number of quarters remaining
until the date of the next annual renewal, as required by A.R.S. §
6-126(B).
D. The following fees are payable to the
Department:
1. To change the name of the
federally chartered savings bank on a certificate of exemption:
$250.00.
2. To change the
responsible individual for the exempt entity: $250.00.
3. To issue a duplicate or replace a lost
certificate of exemption: $100.00.
4. To change the address of the federally
chartered savings bank on a certificate of exemption: $50.00.
Notes
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