A.R.S. § 44-1923: Order denying or revoking registration; notice to issuer and dealers

A. If, after a hearing or notice and opportunity for hearing as provided by article 11 of this chapter, the commission finds grounds for denying or revoking registration of securities, it may enter an order denying or revoking the registration. The order shall state specifically the grounds for its issuance.

B. On the entry of an order denying or revoking the registration of securities, the director shall send notice of the order by certified mail to the issuer of the securities and to all registered dealers engaged in the sale of the securities.