R20-4-1303. Financial Responsibility

An applicant for a loan originator license shall demonstrate financial responsibility, as required by A.R.S. § 6-991.03, by either: 1. Depositing with the Director a bond as specified by A.R.S. § 6-991.03(B)(6) and paying to the Director, for deposit into the Mortgage Recovery Fund, the sum of $100 at the time of filing an original or a renewal application pursuant to A.R.S. § 6-991.03(B)(8); or 2. Depositing with the Director a bond as specified by A.R.S. § 6-991.03(B)(6) and depositing with the Director a bond as specified by A.R.S. § 6-991.03(B)(8).