Arizona § 6-802 Acknowledgment of report of examination; penalty

Arizona Statutes

§ 6-802 — Acknowledgment of report of examination; penalty

Arizona § 6-802

Title 6Arizona Revised Statutes

Ch. 7ESCROW AGENTS

Art. 1Administration

This text of Arizona § 6-802 (Acknowledgment of report of examination; penalty) is published on Counsel Stack Legal Research, covering Arizona primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ariz. Rev. Stat. Ann. § 6-802 (2026).

Text

A.The deputy director shall examine or cause to be examined each escrow agent as prescribed by section 6-122. The deputy director shall forward a report of the examination to the board of directors of the escrow agent within thirty days after the report is completed. Within thirty days after the report is received, the directors shall meet to consider its contents. Within ten days after the directors' meeting, the chairman of the board of directors shall notify the deputy director of its meeting, shall acknowledge that each director has reviewed the report and shall describe the board's responses to the recommendations of the examiners, including any remedies for violations of this title. In each case, the deputy director may extend the time period in this subsection for a period not to e

Free access — add to your briefcase to read the full text and ask questions with AI

A. The deputy director shall examine or cause to be examined each escrow agent as prescribed by section 6-122. The deputy director shall forward a report of the examination to the board of directors of the escrow agent within thirty days after the report is completed. Within thirty days after the report is received, the directors shall meet to consider its contents. Within ten days after the directors' meeting, the chairman of the board of directors shall notify the deputy director of its meeting, shall acknowledge that each director has reviewed the report and shall describe the board's responses to the recommendations of the examiners, including any remedies for violations of this title. In each case, the deputy director may extend the time period in this subsection for a period not to exceed one hundred twenty days applicable to actions by the board of directors and its chairman.

B. Unless excused by the deputy director for cause before or after the date the response is due, an escrow agent who fails to file a timely response to the report of examination shall pay the department up to $100 for each day of delinquency, as assessed by the department.