32-1026. Issuance of licenses
151 words·~1 min read·
/az/title-32/32-1026A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
A. On receipt of an original application accompanied by the fees prescribed in section 6-126 and the financial statement and bond required by this chapter, the deputy director shall investigate the qualifications of the applicant and, if the applicant meets the qualifications of this chapter, shall approve the application. If the application is approved, the license shall be promptly issued to the applicant.
B. A license issued under this chapter shall not be transferable or assignable and control of a license may not be acquired through a stock purchase or other device without the prior written consent of the deputy director. Consent shall not be given if the deputy director finds that the acquiring person does not meet the qualifications of this chapter. For purposes of this subsection, "control" means the power to vote more than twenty percent of the outstanding voting shares of a licensed corporation, partnership, association or trust.