AZ HB2197

Amends Arizona securities enforcement statutes (sections 44-2031, 44-2032, and 44-3291) relating to the Department of Financial Services' jurisdiction and procedures.

Prohibits the Arizona Corporation Commission from joining a divorced spouse in enforcement actions to determine marital community liability, clarifying that joinder authority applies only to current spouses.

Adds a new enforcement option allowing the commission to petition superior court in Maricopa County for restitution orders against a defendant for a divorced spouse's portion of assets acquired or transferred in violation of securities law, requiring clear and convincing evidence.

Restructures cease and desist order enforcement procedures to specify that when a person violates a commission order, the Maricopa County Superior Court may impose civil penalties up to $20,000 per violation and award reasonable costs and attorney fees to the commission.