Arizona § 6-981 - Inactive status
Full text of Arizona Arizona Revised Statutes § 6-981 — Inactive status, with citation guidance and answers to common questions.
§ 6-981. Inactive status
A. For licenses approved on or before March 31, 2009, a licensee may request inactive status for the following license year, and the license shall be placed on inactive status after surrendering the license to the deputy director.
B. For licenses approved after or renewed on March 31, 2009, a licensee may request inactive status on or before December 31 of each year for the following license year, and the license shall be placed on inactive status after surrendering the license to the deputy director.
C. During inactive status, an inactive licensee is not required to maintain a bond and shall not act as a commercial mortgage banker.
D. A licensee may not be on inactive status for more than two consecutive years or for more than four years in any ten-year period. The license is deemed expired on violation of any of the limitations of this subsection.
E. An inactive licensee may return to active status notwithstanding section 6-973, subsection D by making a written request to the deputy director for reactivation. The licensee shall also provide the deputy director with proof that the licensee meets all of the other requirements for acting as a commercial mortgage banker, including required bond coverage or the deposit of a cash alternative.
Frequently Asked Questions About Arizona § 6-981
What does Arizona Revised Statutes § 6-981 cover?
Section 6-981 ("Inactive status") is part of the Arizona Revised Statutes, the codified statutory law of Arizona. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Arizona § 6-981?
A common citation format is "Arizona Revised Statutes § 6-981" (Arizona). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Arizona law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Arizona official source linked on this page or consult a licensed Arizona attorney.
How does Arizona § 6-981 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Arizona can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Arizona.