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Advance Fee Loan Brokers

 

This Registration is required of any person who for an advance fee or in the expectation of an advance fee, either directly or indirectly, makes procures, offers, or attempts to make or procure a loan of money or extension of credit.

Who is exempt from this Registration?  Please review A.R.S. §6-1302.

Requirements for Registration
Registration Renewal
Forms and Fees
Laws, Rules, Substantive Policy Statements & Regulatory Alerts
Examination

You may submit documents to AzDFI electronically using AzDFI’s encrypted message service.

AzDFI Encrypted Message Service Instructions
AzDFI Encrypted Message Service


Inquiries concerning the preparation and filing of License and renewal applications with the Department should be directed to the Licensing Division at 602-771-2800 or e-mail at licensing@azdfi.gov .  For more detailed contact information, see the “Contact Us” tab. .

Requirements for Registration

You must submit to AZDFI a complete application package along with the applicable application fee.

Registration Renewal

Registration of an advance fee loan broker shall expire if not renewed by July 31.  An advance fee loan broker may annually renew his registration by filing a supplemental statement showing any changes in the facts set forth in the original application for registration or any previously filed supplemental statement made a the time of annual renewal.

Although current renewal packages are available on our website all year, they may only be submitted during the renewal period. Registrants are responsible to submit their completed renewal package and applicable renewal fee to AzDFI by June 30. If your completed renewal package and applicable renewal fee are not received by AzDFI on or before June 30 the statutory date, your license will be suspended.

Forms and Fees

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Application Fees and Forms for Advance Fee Loan Brokers
Arizona Revised Statues §6-126 et seq. & §6-1304

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Description

Fees

Forms

Application
Each original application shall be accompanied by a nonrefundable fee of fifty dollars.

$50.00

Supplemental Statement
Each supplemental statement shall be accompanied by a nonrefundable fee of twenty-five dollars.
An advance fee loan broker shall file a supplemental statement showing any changes in the facts set forth in the original application or in any supplemental statement made at the time of annual renewal within thirty days of a change in any material fact.

$25.00

Renewal

Renew annually by June 30 to avoid any penalty

$25.00

Address Change

$25.00

Name Change
To change the licensee name on a financial institution or enterprise license, twenty-five dollars.

$25.00

Change of Control/Ownership change (“COC”)

$25.00

Officer Change

$25.00

Registration Surrender

 

Duplicate Registration
To issue a duplicate or replace a lost enterprise's license, one hundred dollars

$100.00

Laws, Rules & Substantive Policy Statements & Regulatory Alerts
 

Arizona Revised Statutes

 

Article General Provisions
6-1301                          Definitions
6-1302                          Scope of chapter; exemptions
6-1303                          Application for registration
6-1304                          Fees
6-1305                          Registration; renewal; reporting requirements
6-1306                          Register of advance fee loan brokers
6-1307                          Records
6-1308                          Denial, revocation or suspension of registration
6-1309                          Prohibited acts
6-1310                          Noncompliance not to affect validity of loan

 

Arizona Administrative Code Title 20
N/A

Substantive Policy Statements
ARTICLE 1 - General Administration
APPLICATIONS GE-1
CREDIT REPORTS/ARREST RECORDS  GE-3

Regulatory Alerts
N/A

Examinations

It is the policy of AZDFI to select the most effective and efficient methods of conducting examinations so that significant risks affecting safety and soundness, as well as substantive statutory compliance, can be identified and, if necessary, appropriate supervisory action taken.  Judgment must be utilized to ensure that necessary procedures are performed and ineffective activities are avoided.

The examination fee in accordance with A.R.S. §6-125 is not more than sixty-five dollars per hour for each examiner.  The assessment late penalty is fifty dollars for each day after the thirty day period the enterprise fails to remit the assessment not to exceed the examination assessment amount.

Pursuant to A.R.S. §6-122(3) examination frequency is at the Superintendent’s discretion but at least once in a five year period.

For questions concerning examination of your company or license, please contact the Financial Enterprise Division at 602-771-2777 or e-mail to financial@azdfi.gov.