If an applicant or a licensee elects to place with the Director a deposit in the form of a certificate of deposit or investment certificate, in addition to the requirements of A.R.S. § 6-903(M), the certificate of deposit or investment certificate shall not be renewable, nor expire, earlier than 12 months from the date of issuance.

Historical Note

Adopted effective August 14, 1991 (Supp. 91-3). R20-4-912 recodified from R4-4-912 (Supp. 95-1). Amended by final rulemaking at 31 A.A.R. 2313 (July 11, 2025), effective August 17, 2025 (Supp. 25-2).