{"data":{"id":"us-az/a.r.s.-6-1228","jurisdiction":"us-az","citation":"A.R.S. § 6-1228","heading":"Surety bond","body":"A. An applicant for a money transmission license must provide and a licensee at all times must maintain a surety bond in a form satisfactory to the director.\n\nB. Except as provided in subsection C of this section, the amount of the required security shall be the greater of $25,000 or an amount equal to one hundred percent of the licensee's average daily money transmission liability in this state calculated for the most recently completed three-month period, up to a maximum of $500,000.\n\nC. If a licensee's tangible net worth exceeds ten percent of total assets, the licensee may maintain a surety bond of $25,000.\n\nD. A licensee that maintains a bond in the maximum amount provided for in subsection B of this section is not required to calculate the licensee's average daily money transmission liability in this state for purposes of this section.\n\nE. A licensee may exceed the maximum required bond amount pursuant to section 6-1230, subsection A, paragraph 6.","path":["Title 6 Banks and Financial Institutions"],"source_url":"https://www.azleg.gov/ars/6/01228.htm","current_through":"57th Legislature, 2nd Regular Session (effective 2027-01-01); mirror section count 24991","vintage":"2026-09-15","retrieved_at":"2026-09-26T04:29:04Z","sha256":"95f9333d0977dbeac1364b07f51580fa6908f893b09beeddf48e654e3d51c272","source_id":"us-az","stale":false,"prev":"us-az/a.r.s.-6-1227","next":"us-az/a.r.s.-6-1229"},"notice":"GroundRules: Original legal text. Not legal advice."}