There is a newer version of the Arizona Revised Statutes
2005 Arizona Revised Statutes - Title 6 - Banks and Financial Institutions
Chapter 1 - STATE BANKING DEPARTMENTArticle 1 - Definitions
Article 2 - State Banking Department
- §6-110 Department of financial institutions
- §6-111 Superintendent; appointment; term; qualifications; salary
- §6-112 Deputy superintendent; examiners; personnel
- §6-113 Acts prohibited; officers; employees
- §6-114 Balloon payments prohibited; applicability; exemptions
- §6-115 Insurance premium transmitters; timely payment required; civil penalty
- §6-116 Sale of securities; disclosure
Article 3 - Powers and Duties
- §6-121 Examination; supervision
- §6-122 Superintendent; authority; duties; exemption
- §6-123 Superintendent; powers
- §6-123.01 Fingerprint requirements; fees
- §6-124 Investigations; compelling testimony and the production of documents; self‑incrimination
- §6-125 Annual examination assessment of financial institutions and enterprises; costs of foreign examination; payment
- §6-126 Application fees for financial institutions and enterprises
- §6-127 Disposition of revenue
- §6-128 Joint examinations; acceptance of federal regulatory and other authorized examinations
- §6-129 Records; disclosure and limitations on disclosure; evidentiary effect
- §6-129.01 Enterprise documents open to public inspection
- §6-130 Limitation of personal liability
- §6-131 Right to sue and defend in actions; liability limitation; award of fees and other expenses
- §6-131.01 Appointment of superintendent as receiver; award of property, fees and costs
- §6-132 Violation of title; civil penalty
- §6-133 Violations; classification
- §6-134 False statements as to financial condition; classification
- §6-135 Department revolving fund; use of fund
- §6-135.01 Department receivership revolving fund; use of fund
- §6-136 Violation of order or injunction; penalty
- §6-137 Cease and desist orders; injunctions
- §6-138 Hearings
- §6-139 Judicial review
- §6-140 Credit cards; reporting rates; quarterly report of superintendent; definition
Article 4 - Acquisition of Control of a Bank, Trust Company or Savings and Loan Association
- §6-141 Definitions
- §6-142 Unlawful control
- §6-143 Exempt persons and transactions
- §6-144 Acquisition of control; approval of superintendent
- §6-145 Application for approval
- §6-146 Material change of fact; filing amended statements
- §6-147 Denial of application; grounds
- §6-148 Failure to act on application as approval
- §6-149 Determination of control of one person by another; hearing; notice
- §6-150 Appointment of superintendent as agent for service of process; forwarding of process; consent to jurisdiction
- §6-151 Injunctions
- §6-153 Acquisition of voting securities in violation of article; limitation on rights as shareholder; injunction
Article 5 - Proceedings for Officer Removal
- §6-161 Suspension, removal or prohibition; hearing; notice
- §6-162 Temporary prohibition; injunction
- §6-163 Judicial review
- §6-164 Attorney fees and expenses
- §6-165 Enforcement of order
Article 1 - General Provisions
- §6-181 Declaration of purposes
- §6-182 Transition
- §6-183 Rights, powers and privileges of national banks
- §6-184 General corporate and banking powers; incidental powers; deposit insurance; federal reserve and home loan bank membership; agency relationship
- §6-185 Board of directors' meetings; review; report of failure of quorum to meet
- §6-186 Annual audit and report
- §6-187 Authority to declare dividends; limitation
- §6-188 Bonds and insurance; coverage
- §6-189 Capital obligations; approval; convertibility
- §6-190 Bank offices; standards and term of approval; closing; automated teller machines
- §6-191 Foreign banking offices; additional powers; separate accounts; additional offices; definition
- §6-192 Investments in international and foreign banking and financing corporations; limitation; consent; exceptions
- §6-193 Bank and holding company subsidiaries; powers
Article 2 - Banking Permit
- §6-201 Authority to engage in banking business; exception
- §6-202 Existing banks
- §6-203 Application for banking permit
- §6-204 Issuance of banking permit; trust business; conditional approval; hearing; banker's bank; definitions
- §6-205 Term of permit; surrender; revocation
Article 3 - Merger, Consolidation and Conversion of National and State Banks
- §6-211 Definitions
- §6-212 Resulting national bank
- §6-215 Retention of nonconforming assets; permission; maximum value
- §6-216 Continuation of business and corporate entity
- §6-217 Emergency acquisition of in‑state financial institution
Article 4 - Accounts
- §6-231 Deposit accounts
- §6-232 Powers of attorney; notice of revocation; payment after notice
- §6-233 Adverse claim to bank deposit; court order required; definitions
- §6-234 Deposit of minor; school saving plan
- §6-235 Bank deposits in two or more names; payment to survivor
- §6-236 Payment of deposits in trust
- §6-237 Payment of deposit to foreign personal representative
Article 5 - Regulation of Conduct of Business
- §6-241 Banking days; notice; closing
- §6-242 Preservation of bank records; regulations; disposal
- §6-243 Acquisition of property to satisfy or protect loans
- §6-244 Borrowing by bank; treatment as capital
- §6-245 Pledge of assets; rediscount; exception to requirement of security
- §6-246 Permitted investments; limitations
Article 6 - Reserves
- §6-271 Reserves against deposits; rule; limitations
- §6-272 Deposits exempt from reserve requirement
- §6-273 Form of reserves; limitations
- §6-275 Computation of reserves
Article 7 - Arizona Interstate Bank and Savings and Loan Association Act
- §6-321 Definitions
- §6-322 Interstate acquisitions; approval of superintendent; exception
- §6-324 De novo entry by certain financial institutions
- §6-325 Failure to act on application as approval
- §6-326 Denial of application; grounds
- §6-327 Applicable laws and rules; cooperative agreements; contracting exemption
- §6-328 Deposit concentration limits
- §6-329 Deposit production offices
- §6-330 Rights, powers and privileges of out‑of‑state banks
- §6-331 Enforcement
Article 9 - Loans
- §6-351 Definitions
- §6-352 Limitations of obligations to a bank; exceptions; definitions
- §6-353 Obligations of directors, officers and employees; reports
- §6-354 Loans on capital stock or capital obligations of a bank
- §6-355 Change loans
Article 11 - Trust Business
- §6-381 Authority of bank to engage in the trust business
- §6-382 Powers of bank as fiduciary
- §6-383 Identification and segregation of fiduciary assets
- §6-384 Deposit of fiduciary funds
- §6-385 Substitution of corporate fiduciary
- §6-386 Investment by fiduciaries; governmental obligations
Article 12 - Prohibited Practices; Penalties
- §6-391 Unauthorized conduct of banking business; false representation
- §6-394 Prohibited ownership or control of a financial institution and interest in insurer insuring deposits; assets and reserves of insurer
Article 13 - Liquidation and Dissolution
- §6-395 Possession by superintendent and receivership
- §6-395.01 Powers of superintendent in possession
- §6-395.02 Federal deposit insurance corporation as receiver
- §6-395.03 Federal deposit insurance corporation power pending judicial proceedings
- §6-395.04 Right of subrogation of federal deposit insurance corporation
- §6-395.05 Effect of receivership proceedings on liens and limitations
- §6-395.06 Rights, powers and duties of a receiver
- §6-395.07 Sale of bank assets; authority to borrow monies; injunction; hearing
- §6-395.08 Rejection of contracts and leases on liquidation
- §6-395.09 Notice to claimants on liquidation
- §6-395.10 Disposition of unclaimed property
- §6-395.11 Priority of claims; interest
- §6-395.12 Payment of claims and distribution to stockholders on liquidation
- §6-395.13 Voluntary liquidation and dissolution
- §6-395.14 Voidable transactions
- §6-395.15 Notice of taking; effect
Article 1 - General Provisions
- §6-401 Definitions
- §6-402 Scope of chapter; application to federal associations and federal savings banks
- §6-403 Prohibitions
- §6-404 General corporate powers
- §6-405 Power to borrow
- §6-405.01 Capital notes and debentures
- §6-406 Incidental powers
Article 2 - Formation and Licensing
- §6-407 Applicants and initial capital
- §6-408 Application for permit to organize
- §6-409 Findings and hearings
- §6-410 Superintendent's approval and issuance of permit to organize
- §6-411 Subscription to capital and temporary organization
- §6-412 Completion of organization
- §6-413 Contents of articles of incorporation
Article 3 - Membership and Management
- §6-414 Members
- §6-415 Members' meetings
- §6-416 Record date for voting, dividend and other purposes
- §6-417 Directors
- §6-418 Waiver of notice
- §6-419 Officers
- §6-420 Bonds of officers and employees
- §6-421 Access to books and records; communication with members
Article 4 - Capital
- §6-422 Types of capital; personal property
- §6-423 Accounts
- §6-424 Shares of guaranty capital; nature; consideration
- §6-425 Shares of guaranty capital; authorization of issuance; minimum amount
- §6-426 Shares of guaranty capital; rights of existing shareholders
- §6-427 Shares of guaranty capital; advertisement; sales; collection of subscription
- §6-428 Retirement or reduction of shares of guaranty capital
- §6-429 Issuance, delivery, and transfer of certificates and account books
- §6-430 Who may hold capital and membership
- §6-432 Effect of payment to minor or fiduciary
- §6-433 Payment on disability or death of holder in his own right of account
- §6-434 Shares and accounts of certain associations as legal investments; deposit of fiduciary monies
- §6-435 Voluntary withdrawal of accounts
- §6-436 Maturity of shares
- §6-437 Enforced retirement of accounts
- §6-438 Authorized charges applicable to members
- §6-439 Accounts subject to liens
- §6-440 Apportionment of profits
- §6-442 Dividends and interest
- §6-443 Bonus plans
- §6-444 Promotional activities prohibited
Article 5 - Investments and Powers
- §6-446 Other investments and powers
- §6-449 General loan contract provisions
- §6-450 Modification agreements
- §6-451 Servicing of loans
- §6-452 Purchase of real or personal property at forced sale
- §6-453 Purchase of real estate for office and rental purposes
- §6-454 Appraisal of real estate owned
- §6-456 Effect of unauthorized investments and loans; liability of officers
- §6-457 Appraisals
- §6-458 Acknowledgments
Article 6 - Voluntary Corporate Changes
- §6-459 Amendment of articles of incorporation
- §6-460 Procedure to amend articles of incorporation
- §6-461 Existing associations; adoption of articles and by‑laws
- §6-462 Conversion from state to federal association
- §6-463 Conversion from federal to state association
- §6-464 Effect of conversion
- §6-465 Merger of associations or corporations
- §6-466 Effect of merger
Article 7 - Voluntary Liquidation
- §6-467 Authority to liquidate
- §6-468 Decision as to liquidation; adoption of plan
- §6-469 Election of liquidators; report; supervision
- §6-470 Protection and liquidation of assets
- §6-471 Filing and payment of claims
- §6-472 Final distribution and dissolution
Article 8 - Supervision
- §6-474 Accounting practices and records
- §6-475 Branch office
- §6-476 Examination
- §6-477 Audit by public accountant
- §6-478 Reports to superintendent and members
- §6-479 Information to federal authorities
- §6-482 Receiver; appointment; transfer of assets; powers; liability
- §6-483 Procedure for liquidation; rights of share transferor
- §6-484 Illegal use of name; classification
Article 9 - Rehabilitation and Reorganization
- §6-486 Rehabilitation of associations; definition of plan
- §6-487 Proposal of plan; petition; notice of hearing
- §6-488 Hearing; fairness of plan
- §6-489 Consents required for plan to operate; exceptions
- §6-490 Time of giving consents; jurisdiction of court
- §6-491 Effect of approval and consents
- §6-492 Appeals
- §6-493 Securities defined; power to issue under plan
- §6-494 Authority of fiduciaries
Article 10 - Miscellaneous Provisions
- §6-495 Reservation of powers to legislature
- §6-496 Applicability of other statutes
- §6-497 Effect on existing associations
Article 1 - General Provisions
Article 2 - Formation of Credit Union
- §6-506 Organization procedure
- §6-507 Certificate of approval; filing with corporation commission; certificate of incorporation
- §6-508 Certificate of organization and bylaws
- §6-509 Exclusive use of name; exception
- §6-510 Principal place of business; branch office; automated teller machines
- §6-511 Out‑of‑state credit union
- §6-512 Fiscal year
Article 3 - Powers of Credit Union
Article 4 - Membership
- §6-521 Membership
- §6-522 Organization members
- §6-523 Membership applications
- §6-524 Termination of membership
- §6-525 Meetings of members
- §6-526 Calling of special meetings
- §6-527 Liability of members
Article 5 - Direction of Affairs
- §6-531 Authority and responsibility of directors; voting
- §6-532 Election of board
- §6-533 Compensation of officials
- §6-534 Conflicts of interest
- §6-535 Officers
- §6-536 Executive committee
- §6-537 Certain duties of directors; insurance
- §6-538 Credit committee
- §6-539 Credit manager
- §6-540 Loan officers
- §6-541 Audits
- §6-542 Suspension and removal of officials
Article 6 - Accounts
- §6-551 Share accounts
- §6-552 Dividends
- §6-553 Deposit accounts
- §6-554 Withdrawals
- §6-555 Minors' accounts
- §6-556 Multiple party accounts
- §6-557 Liens
- §6-558 Member account insurance
Article 7 - Loans
- §6-561 Purpose and conditions of loans
- §6-562 Interest rates and other charges
- §6-563 Other loan programs
- §6-564 Loans to officials
Article 8 - Other Member Services
- §6-571 Insurance for members
- §6-572 Group purchasing
- §6-573 Money type instruments
- §6-574 Retirement accounts
Article 9 - Investments
Article 10 - Reserves
Article 11 - Dissolutions
- §6-584 Voluntary dissolution
- §6-585 Involuntary dissolution
- §6-586 Distribution of assets of liquidating credit union
Article 12 - Change in Corporate Status
Article 13 - Corporate Credit Union
- §6-591 Organization
- §6-592 Purposes; membership
- §6-593 Powers of corporate credit union; federal parity
- §6-594 Participation in central system
- §6-595 Reserves
Article 1 - General Provisions
- §6-601 Definitions
- §6-602 Exemptions
- §6-603 License; contents of application; fees; nontransferable
- §6-604 Issuance of license; license year; requirements
- §6-605 Denial of renewal; suspension; revocation
- §6-606 Business limited to licensed locations; restrictions
- §6-607 Books; accounts; records; access
- §6-608 Annual report of licensee; civil penalty for failure to file
- §6-609 Reporting rates; change in rates; quarterly report of superintendent
- §6-610 Effect of revocation, suspension or surrender on preexisting contract; impairment of contracts
- §6-611 Prohibited acts
- §6-612 Rules
- §6-613 Restrictions; voidable loans
- §6-614 Noncompliance
- §6-615 Foreign loans; reciprocity
Article 2 - Requirements for Consumer Lender Loans
- §6-631 Disclosures; penalty
- §6-632 Finance charges
- §6-633 Computation of finance charges
- §6-634 Precomputation of consumer loan
- §6-635 Other allowable fees
- §6-636 Insurance securing loan; cancellation; notice
- §6-637 Term; payments
- §6-638 Other insurance
Article 1 - In General
- §6-701 Definitions
- §6-702 Exemptions
- §6-703 License required
- §6-704 Application for license; bonds; contract
- §6-705 Branch offices and agencies
- §6-706 Fees
- §6-707 Issuance of license; display; cancellation on termination
- §6-708 Denial; revocation or suspension of license
- §6-709 Requirements
- §6-710 Prohibitions
- §6-714 Advertising
- §6-715 Prohibitions
- §6-716 Fees collected
Article 1 - Administration
Article 2 - Licensing
- §6-811 Exemptions
- §6-812 Foreign corporations
- §6-813 License of agent; nontransferable; posting
- §6-814 Procedure for licensing; surety bond
- §6-815 Renewal of license
- §6-816 Fees
- §6-817 Refusal to license; suspension; revocation
Article 3 - Regulations
- §6-831 Records
- §6-832 Annual audit; report
- §6-833 Seizure of property of impaired escrow agent
- §6-833.01 Priority of distribution during receivership
- §6-834 Deposit of monies; definition
- §6-835 Limit of legal action
- §6-836 Commissions; other considerations prohibited
- §6-837 Duty of escrow agent to produce escrow records for inspection; violation; classification
- §6-838 Surrender of license
- §6-839 Continuing jurisdiction
- §6-840 Prohibitions; definitions
- §6-841 Internal control structure; definition
- §6-841.01 Fiduciary duty; notice of returned check
- §6-841.02 Liability of title insurer; closing protection letter; definition
- §6-841.03 Notice of uninsured monies; rules
- §6-843 Disbursements; applicability
Article 4 - Escrow Rates
- §6-846 Making of escrow rates
- §6-846.01 Filing of escrow rates
- §6-846.02 Justification for escrow rates
- §6-846.03 Disapproval of escrow filings
- §6-846.04 Deviations in escrow rates; civil penalty
Article 5 - Escrow Recovery Fund
- §6-847 Definitions
- §6-847.01 Arizona escrow recovery fund
- §6-847.02 Payments to the fund
- §6-847.03 Investment of monies
- §6-847.04 Obligations of the fund
- §6-847.05 Limitation on claims
Article 1 - General Provisions
- §6-851 Definitions
- §6-852 Exemptions and permitted activities
- §6-853 Certificate required; exceptions
- §6-854 Application for certificate
- §6-854.01 Articles of incorporation; approval; changes
- §6-854.02 Board of directors; number; bylaws
- §6-855 Fees
- §6-856 Minimum capital; dividends; other requirements
- §6-857 Issuance of certificate; hearing
- §6-859 Records; audits; preservation of records; protection; insurance; bond; contingency plan
- §6-860 Duty of trustee, escrow officer or agent to produce trust or escrow records for inspection; violation; classification
- §6-861 Reports
- §6-862 Trust funds
- §6-863 Suspension or revocation of certificate
- §6-864 Continuing jurisdiction
- §6-865 Unsafe condition; receivership
- §6-866 Limit of legal action
- §6-867 Trust company name
- §6-868 Fidelity bond; requirements
- §6-869 Meetings; reports; report of examination; response; penalties
- §6-870 Trust committee
- §6-870.01 Acceptance of other examinations; cooperative agreements
- §6-870.02 Prohibited acts
Article 2 - Uniform Common Trust Fund Act
- §6-871 Establishment of common trust funds
- §6-872 Court accountings
- §6-873 Uniformity of interpretation
- §6-874 Short title
Article 3 - Authorization to Accept Savings Accounts and Time Deposits
Chapter 9 - MORTGAGE BROKERS AND MORTGAGE BANKERSArticle 1 - Mortgage Brokers
- §6-901 Definitions
- §6-902 Exemptions
- §6-903 Licensing of mortgage brokers required; qualifications; application; bond; fees; renewal
- §6-904 Issuance of license; renewal; inactive status; branch office license; application; fee
- §6-905 Denial, suspension or revocation of licenses
- §6-906 Required accounting practices and records; escrow of monies; disclosure
- §6-907 Required disclosure to investors
- §6-908 Testing committee; testing of applicants; approval by superintendent; definition
- §6-909 Prohibited acts
- §6-910 Noncompliance not to affect validity of loan
Article 2 - Mortgage Bankers
- §6-941 Definitions
- §6-942 Exemptions
- §6-943 Licensing of mortgage bankers required; qualifications; application; bond; fees; renewal
- §6-944 Issuance of license; renewal; branch office license; application; fee
- §6-945 Denial, suspension or revocation of licenses
- §6-946 Required accounting practices and records; refundable deposits; periodic impoundment payments; disclosure
- §6-947 Prohibited acts
- §6-948 Noncompliance not to affect validity of loan
Article 3 - Commercial Mortgage Bankers
- §6-971 Definitions
- §6-972 Exemptions
- §6-973 Licensing commercial mortgage bankers required; qualifications
- §6-974 Application for license; issuance or denial; fees
- §6-975 Bond or other security
- §6-976 Responsible individual; employees
- §6-977 Displaying and using license number
- §6-978 Consent of superintendent for transferring, assigning or acquiring control of licensee; definition
- §6-979 Principal place of business; branch office license; change of address
- §6-980 Annual renewal; expiration on failure to renew
- §6-981 Inactive status
- §6-982 Denial, suspension or revocation of licenses
- §6-983 Required accounting practices and records; escrow of monies; disclosure
- §6-984 Prohibited acts
- §6-985 Noncompliance not to affect validity of loan
Article 1 - General Provisions
- §6-1001 Definitions
- §6-1002 Legal relationship in use of safe deposit facilities
- §6-1003 Change of location of repositories
- §6-1004 Tenancy in two or more names
- §6-1005 Lease to a minor
- §6-1006 Adverse claims to repository; definitions
- §6-1007 Lessee's death or incompetency; revocation of power of attorney
- §6-1008 Procedure on death of lessee
- §6-1009 Lessor's lien; default of lessee; or failure to surrender
Article 1 - General Provisions
- §6-1101 Definitions
- §6-1102 Prohibitions
- §6-1103 Exempt persons and transactions
- §6-1104 Acquisition of control; approval by superintendent
- §6-1105 Application for approval
- §6-1106 Material change of fact; filing amended statements
- §6-1107 Denial of application; grounds
- §6-1108 Failure to act on application as approval
- §6-1109 Determination of control of one person by another; hearing; notice
- §6-1110 Appointment of superintendent as agent for service of process; forwarding of process; consent to jurisdiction
- §6-1112 Acquisition of voting securities in violation of article; limitation on rights as shareholder; injunction
- §6-1113 Reports; examination; costs
Article 1 - Licenses and Regulation
- §6-1201 Definitions
- §6-1202 License required
- §6-1203 Exemptions
- §6-1204 Application for license; fees
- §6-1205 Bond required; conditions; notice; cancellation; substitution
- §6-1205.01 Net worth requirements
- §6-1206 Issuance of license; renewal
- §6-1207 Principal and branch offices; notices
- §6-1208 Authorized delegates of licensee; reports
- §6-1209 Cease and desist orders; examinations
- §6-1210 Suspension or revocation of licenses
- §6-1211 Reports
- §6-1212 Permissible investments
- §6-1213 Records
- §6-1214 Liability of licensees
- §6-1215 Notice of source of instrument; transaction records
- §6-1216 Acquisition of control
- §6-1217 Appointment of superintendent as agent for service of process; forwarding of process; consent to jurisdiction
- §6-1218 Prohibited transactions
Article 2 - Money Laundering
- §6-1241 Reports to the attorney general; investigation; violation; classification
- §6-1242 Investigations
Article 1 - General Provisions
- §6-1251 Definitions
- §6-1252 Exemptions
- §6-1253 Application for license; financial statement
- §6-1254 Qualifications of applicants
- §6-1255 Issuance of licenses
- §6-1256 Annual renewal of license
- §6-1257 Duties of licensees
- §6-1258 Denial, revocation or suspension of license
- §6-1259 Prohibited acts
- §6-1260 Deferred presentment; amount; fees; loans to members of military service
- §6-1261 Books, accounts and records; examinations; costs
- §6-1262 Violation; classification; individual liability
- §6-1263 Program termination
Article 1 - General Provisions
- §6-1301 Definitions
- §6-1302 Scope of chapter; exemptions
- §6-1303 Application for registration
- §6-1304 Fees
- §6-1305 Registration; reporting requirements
- §6-1306 Register of advance fee loan brokers
- §6-1307 Records
- §6-1308 Denial, revocation or suspension of registration
- §6-1309 Prohibited acts
- §6-1310 Noncompliance not to affect validity of loan
Article 1 - General Provisions
- §6-1401 Definitions
- §6-1402 Licensure required; contents of application; fees; nontransferable; branch office permit
- §6-1403 Exemptions
- §6-1404 Denial, suspension or revocation of licenses and branch office permits
- §6-1405 Issuance of license or branch office permit; license year; requirements
- §6-1406 Books and records of premium finance company; access to records
- §6-1407 Removal of place of business
- §6-1408 Annual report of licensee; civil penalty for failure to file
- §6-1409 Effect of revocation, suspension or surrender on preexisting contracts; impairment of contracts
- §6-1410 Form of premium finance agreement; notice
- §6-1411 Disclosure requirements
- §6-1412 Limitation on interest and other charges
- §6-1413 Other charges allowed
- §6-1414 Splitting of premium finance agreement prohibited
- §6-1415 Cancellation of insurance contract upon default
- §6-1416 Return premiums
- §6-1417 Servicing of premium finance agreements
- §6-1418 Exemption from any filing requirements
- §6-1419 Rules
Article 1 - General Provisions
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