Section R4-34-402. Cash Deposits

A.      Except for applicants exempt under R4-34-401, any applicant for a license or renewal of a license who desires to post cash in place of a commercial surety bond shall deposit the applicable amount with the Deputy Director of the Office of Administra- tion using any one of the following payment methods:

1.        Cash,

2.        Certified check payable to the State Treasurer,

3.        Cashier’s check payable to the State Treasurer,

4.        Bank money order payable to the State Treasurer, or

5.        Postal money order payable to the State Treasurer.

B.       Upon the receipt by the Deputy Director of the Office of Administration of an order from any court for the payment of funds on deposit, the Deputy Director shall make payment according to the court order, at which time the license is sus- pended under A.R.S. § 41-2179, if applicable. In order to rein- state the license, the licensee shall return the cash deposit to the required balance or, as an alternative, file a commercial surety bond for the full amount and pay all applicable rein- statement fees.

C.      The cash deposit is not transferable.

D.      The applicant shall make the cash deposit in the name of the applicant as it appears on the license application.

E.       The applicant may withdraw the cash deposit under the fol- lowing circumstances:

1.        The license is not issued;

2.        The license has been terminated for two years or more by expiration, revocation, or voluntary cancellation, and there are no outstanding claims against the deposit; and

3.        Two years after an applicant files a commercial surety bond as a replacement for the cash deposit, if there are no outstanding claims.

F.       Upon written request and subsequent approval by the Deputy Director of the Office of Administration, a cash deposit may be withdrawn by the owner of a sole proprietorship, any part- ner of a partnership, any person with written evidence of authority to withdraw the cash deposit for a corporation, and any other person who can establish legal right to the cash deposit.

Historical Note

Adopted effective January 31, 1979 (Supp. 79-1). Former Section R4-34-402 renumbered to R4-34-502, new Sec- tion R4-34-402 renumbered from R4-34-902 effective July 3, 1991 (Supp. 91-3). Section repealed by final

rulemaking at 6 A.A.R. 47, effective December 8, 1999; new Section adopted by final rulemaking at 6 A.A.R. 145, effective December 8, 1999 (Supp. 99-4). Amended by final rulemaking at 14 A.A.R. 286, effective March 8, 2008 (Supp. 08-1).