Arizona § 44-3181 - Fees; penalties; abandonment

§ 44-3181. Fees; penalties; abandonment

A. The annual nonrefundable license fee for each licensed investment adviser and investment adviser representative and the annual nonrefundable notice filing fee for each federal covered adviser shall be paid to the commission on or before the last working day of December. The annual nonrefundable license fee for each investment adviser and the annual nonrefundable notice filing fee prescribed in section 44-3153, subsection F are two hundred fifty dollars and the annual nonrefundable license fee for each investment adviser representative is forty dollars.

B. An investment adviser that fails to timely renew an annual investment adviser or investment adviser representative license or notice filing shall pay a penalty of twenty-five dollars per business day until the appropriate documents and fee are filed, up to a maximum of forty business days.  Failure to timely renew is not a violation of section 44-3151 if the license or notice filing fee and penalty are paid within forty business days. Failure to renew within forty business days may result in additional sanctions as provided in this chapter.

C. The transfer fee for an investment adviser representative transferring that investment adviser representative's license from one investment adviser to another investment adviser is forty dollars.

D. All applications, withdrawals, terminations, transfers, renewals or other filings with the IARD shall be on the forms required by the IARD and shall be accompanied by any reasonable costs charged by the IARD for processing the filings.  Any person who is required to pay a fee pursuant to this section may transmit the fee to the commission through the IARD.

E. The commission shall retain any notice filing or licensure fees that are collected in connection with abandoned applications or notice filings.  A notice filing or an application for licensure is deemed abandoned if both:

1. The notice filing or application has been on file with the commission for at least six months or the applicant or notice filer has failed to respond to a request for information for at least two months after the date of the request.

2. The applicant or notice filer has failed to respond to the commission's notice of warning of abandonment within sixty calendar days after the date of the warning.

F. The fee for submitting fingerprints is the fee that is required by the federal government and the department of public safety.