Ariz. Admin. Code § 2-14-109

Current through Register Vol. 30, No. 52, December 27, 2024

Section R2-14-109 - Civil Penalty for Noncompliance; Hearing

A.The Administrator may assess a civil penalty in the amount specified under A.R.S. § 35-1211 against an eligible depository for failing to:

1. Maintain required collateral, or

2. File a report required under R2-14-105.

B.If the Administrator determines that an eligible depository has failed to maintain required collateral or file a required report, the Administrator shall serve written notice by certified mail to the eligible depository of intent to assess a civil penalty. The Administrator shall ensure that the notice provides the information required under A.R.S. § 41-1092.03(A).

C.An eligible depository that receives notice under subsection (B) may make a written request for a hearing. The eligible depository shall make the request for hearing within 30 days after receipt of the notice under subsection (B).

D.At least 20 days before a scheduled hearing, an eligible depository may make a written request for an informal settlement conference.

E.The Administrator shall ensure that hearings are conducted using the procedures in A.R.S. Title 41, Chapter 6, Article 10 and rules of the Office of Administrative Hearings.

Ariz. Admin. Code § R2-14-109

Adopted by final rulemaking at 21 A.A.R. 233, effective 4/4/2015.