Regarding authorized activities of the Director of the Department of Insurance and Financial Institutions pertaining to the Financial Institutions Division (the Department).
Proposal designates AZ INS 20-4-103 (Fingerprints) will be repealed as redundant.
Proposed Amendments
The rules augment the statutory sections regulating licensees of the Department.
Not designed to change conduct but is necessary to reflect new Department structure.
Rulemaking not intended to reduce the frequency of any potentially violative conduct.
Replaces Superintendent with Director; adds definitions that reflect current practices.
Amendments track with the Insurance Division statute on licensing time-frames language for consistency between the Insurance and Financial Institutions divisions.
Synchronizes licensing time-frames statutes for the two divisions of the Department.
Timeframes updated in Table A Licensing time-frames and Real Estate Appraisal added
Consultation
Comments on the proposed amendments are due on or before Dec. 8, 2024.
Nov. 15, 2024 AZ INS Comment Period
On Nov. 15, 2024, AZ INS posted notice of comment period which will end on Dec. 8.
If parties want an oral proceeding, should request using the same comments process.
AZ INS will schedule the proceeding at least 30 days after publication of Notice of Oral Proceeding in Arizona Register, and extend the comment period to proceeding date.
Feb. 2025 AZ INS Final Rulemaking
On Feb. 14, 2025, AZ INS published notice of final rulemaking, effective Apr. 6, 2025.
Regulators
AZ BANK; AZ INS
Entity Types
Bank; Ins; MG Orig; Servicer; Thrift
Reference
AZ SR Vol. 31 Is. 7 p. 533-543, Nt, 2/14/2025; Nt, 11/15/2024; AZ SR Vol. 30, Is. 45, p. 3285, RF R24-216, 11/8/2024; Citation: AZ INS 20-4;
Functions
Actuarial and Valuation; Compliance; Financial; Legal; Operations; Registration/Licensing
