R4-34-402. Cash Deposits

A. Unless exempt under R4-34-401, an applicant or licensee posting cash in lieu of a commercial surety bond shall pay by: 1. Cash. A cash deposit is not transferable and shall be made in the name of the applicant or licensee as the name appears on the license application or issued license; or 2. Certified or cashier’s check or bank or postal money order made payable to the Arizona State Treasurer. B. Upon receipt of an order from a court of competent jurisdiction directing payment of funds on deposit, the Director shall make payment as directed and suspend the license under A.R.S. § 41-4029. To reinstate the license, the licensee shall return the cash deposit to the required balance or file a commercial surety bond for the full amount, and pay all applicable reinstatement fees. C. A cash deposit may be withdrawn by the applicant, licensee, or someone having authority to act on behalf of the applicant or licensee, under the following circumstances: 1. A license is not issued to the applicant; 2. The license has been terminated, expired, revoked, or voluntary canceled for at least two years, and there are no outstanding claims; and 3. Two years after the licensee files a commercial surety bond that replaces the cash deposit if there are no outstanding claims.