Arizona § 6-978 Consent of deputy director for transferring, assigning or acquiring control of licensee; definition

Arizona Statutes

§ 6-978 — Consent of deputy director for transferring, assigning or acquiring control of licensee; definition

Arizona § 6-978

Title 6Arizona Revised Statutes

Ch. 9MORTGAGE BROKERS, MORTGAGE BANKERS AND LOAN ORIGINATORS

Art. 3Commercial Mortgage Bankers

This text of Arizona § 6-978 (Consent of deputy director for transferring, assigning or acquiring control of licensee; definition) 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. § 6-978 (2026).

Text

A license is not transferable or assignable and control of a licensee may not be acquired through a stock purchase or any other device without the prior written consent of the deputy director. The deputy director shall not give written consent if the deputy director finds that any of the grounds for denial, revocation or suspension of a license as set forth in section 6-982 apply to the acquiring person. For the purpose of this section, "control" means the power to vote more than twenty percent of the outstanding voting shares of a licensed corporation, partnership, association or trust.

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A license is not transferable or assignable and control of a licensee may not be acquired through a stock purchase or any other device without the prior written consent of the deputy director. The deputy director shall not give written consent if the deputy director finds that any of the grounds for denial, revocation or suspension of a license as set forth in section 6-982 apply to the acquiring person. For the purpose of this section, "control" means the power to vote more than twenty percent of the outstanding voting shares of a licensed corporation, partnership, association or trust.