Title 41 — State Government
53 chapters · 1,475 sections in this title.
A.R.S. § 41-5601 Definitions
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In this chapter, unless the context otherwise requires: 1. "Applicable agency" means a department or agency of this state established by law to regulate certain types of business activity in this state and persons engaged in such business, including the issuance of licenses or ot…
A.R.S. § 41-5602 Program purpose
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The attorney general shall establish a regulatory sandbox program in consultation with applicable agencies of this state to enable a person to obtain limited access to the market in this state to test innovative financial products or services or other innovations without obtainin…
A.R.S. § 41-5603 Application process and requirements; fee
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A. Any person may apply to enter the regulatory sandbox to test an innovation. B. The attorney general must accept and review each application for entry into the regulatory sandbox on a rolling basis. C. An application must demonstrate that an applicant both: 1. Is an entity or i…
A.R.S. § 41-5604 Consultation with applicable agencies; admission authority
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A. The attorney general must consult with an applicable agency before admitting a person into the regulatory sandbox. This consultation may include seeking information about: 1. Whether the applicable agency previously has either: (a) Issued a license or other authorization to th…
A.R.S. § 41-5605 Scope
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A. If the attorney general approves an application for entry into the regulatory sandbox, the applicant is deemed a sandbox participant and both of the following apply: 1. The sandbox participant has twenty-four months after the date of approval to test the innovation described i…
A.R.S. § 41-5606 Consumer protection
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A. Before providing an innovation to consumers, a sandbox participant must disclose to consumers all of the following: 1. The name and contact information of the sandbox participant, including the registration number provided by the attorney general pursuant to section 41-5605. 2…
A.R.S. § 41-5607 Exit requirements
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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…
A.R.S. § 41-5608 Discretionary allowances
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A. A sandbox participant may request an extension of the regulatory sandbox testing period or an increase in the consumer cap established by section 41-5605 for the purpose of pursuing a license or other authorization required by law. B. The attorney general may grant or deny a r…
A.R.S. § 41-5609 Recordkeeping and reporting requirements
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A. A sandbox participant must retain records, documents and data produced in the ordinary course of business regarding an innovation tested in the regulatory sandbox. B. If an innovation fails before the end of the testing period, the sandbox participant must notify the attorney …
A.R.S. § 41-5610 Records; disclosure; evidentiary effect
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A. Records that are submitted to or obtained by the attorney general in administering this chapter are not public records or open for inspection by the public. B. Records and information that are submitted or obtained pursuant to this chapter may be disclosed to any of the follow…
A.R.S. § 41-5611 Reporting requirements; monitoring; enforcement; agreements
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A. The attorney general may establish periodic reporting requirements for sandbox participants. B. The attorney general may seek records, documents and data from sandbox participants. On the attorney general's request, sandbox participants must make such records, documents and da…