HB 2010 Summary

• Extends renewal deadlines for consumer lenders from June 15 to June 30, with automatic license expiration on July 31 if not renewed, and adds a $25 daily late fee after the deadline.

• Modifies renewal deadlines for debt management companies from June 15 to June 30 each year.

• Updates mortgage broker and mortgage banker record-keeping requirements by removing provisions allowing records to be maintained outside Arizona and simplifying language regarding record availability.

• Changes loan originator license renewal deadlines from December 31 to January 31, with suspension on December 31 for non-renewal and automatic expiration on January 31.

• Establishes new dental insurer reporting requirements beginning July 1, 2024, requiring annual dental loss ratio reports to the department by July 1 each year, with public posting of results on the department website by August 1.