41-5607. Exit requirements
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/az/title-41/41-5607A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
A. At least thirty days before the end of the twenty-four-month regulatory sandbox testing period, a sandbox participant must either:
1. Notify the attorney general that the sandbox participant will exit the regulatory sandbox, wind down its test and cease offering any innovative products or services in the regulatory sandbox within sixty days after the twenty-four-month testing period ends.
2. Seek an extension pursuant to section 41-5608 to pursue a license or other authorization required by law.
B. If the attorney general does not receive notification pursuant to subsection A of this section, the regulatory sandbox testing period ends at the end of the twenty-four-month testing period and the sandbox participant must immediately cease offering innovative products or services.
C. If a test includes offering products or services that require ongoing duties, such as servicing a loan, the sandbox participant must continue to fulfill those duties or arrange for another person to fulfill those duties after the date the sandbox participant exits the regulatory sandbox.