Statutes, codes, and regulations
Arizona Administrative Code
Title 20 - COMMERCE, FINANCIAL INSTITUTIONS, AND INSURANCEChapter 04 - DEPARTMENT OF INSURANCE AND FINANCIAL INSTITUTIONS - FINANCIAL INSTITUTIONS
Article 5 - CONSUMER LENDERS
Section R20-4-503 - Adjustments in Precomputed Charges

Ariz. Admin. Code § 20-4-503

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Current through Register Vol. 30, No. 52, December 27, 2024
Section R20-4-503 - Adjustments in Precomputed Charges

A licensee shall adjust the total precomputed charges if the first installment period is more or less than one month in duration. The licensee's records shall reflect the adjustment's collection in one of three ways.

1. In the first installment payment,
2. Amortized over the life of the contract, or
3. As part of the final payment.

Ariz. Admin. Code § R20-4-503

Former Rule 3. R20-4-503recodified from R4-4-503 (Supp. 95-1). Amended by final rulemaking at 6 A.A.R. 4605, effective November 14, 2000 (Supp. 00-4). Amended by final rulemaking at 29 A.A.R. 1942, effective 10/7/2023.