If a license with a cash bond is cancelled, when can the licensee withdraw any remaining balance?

When a license with a cash bond is canceled in Arizona, the licensee is typically allowed to withdraw any remaining balance after a period of 2 years. This timeframe allows for the resolution of any outstanding obligations or liabilities that may exist in relation to the license. It is important for licensees to adhere to this time frame, as it ensures that all claims against the bond are settled before funds are withdrawn.

The period of 2 years is specified in the relevant statutes governing the cancellation of licenses and the subsequent handling of cash bonds. This is designed to protect consumers and the regulatory system by ensuring that all potential claims are addressed before the remaining balance can be issued to the licensee.