Arizona Revised Statutes (Last Updated: March 31, 2016) |
Title 32. Professions and Occupations |
Chapter 20. REAL ESTATE |
Article 5. Real Estate Recovery Fund |
Sec 32-2188.02. Correction of deficiencies in the application
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A. If the commissioner determines that a claimant's application fails to comply substantially with the requirements of section 32-2188 or rules adopted pursuant to this chapter, the commissioner, within thirty calendar days after receiving the application, shall mail an itemized list of deficiencies to the claimant. For the purposes of this subsection, "comply substantially" means filing with the department the documents that are minimally necessary to process a claim, including at least a certified copy of the judgment, legible copies of documents establishing the underlying transaction and amounts of losses suffered and a statement concerning amounts recovered from or on behalf of the judgment debtor.
B. The claimant must respond within sixty calendar days after receiving the list of deficiencies by providing the information identified by the commissioner. If the claimant fails to correct the deficiencies within sixty calendar days, the department shall close the file unless the claimant requests an extension in writing. A claimant whose file has been closed may submit a new application as provided by section 32-2188.
C. The deadline prescribed by section 32-2188.04 for the commissioner to make a decision on the application is suspended from the date the commissioner mails the list of deficiencies to the applicant until the date the department receives the requested information.