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Arizona Revised Statutes Title 6. Banks and Financial Institutions § 6-217. Emergency acquisition of in-state financial institution

Current as of January 01, 2025 | Updated by Findlaw Staff

A. Notwithstanding any other provisions of law, an in-state financial institution or out-of-state financial institution may acquire an in-state financial institution if the deputy director determines that both of the following exist:

1. The in-state financial institution proposed to be acquired is in danger of being placed in receivership by the deputy director or the relevant federal agency.

2. The acquisition is necessary to protect the financial interests of the in-state financial institution's depositors and creditors.

B. The deputy director shall make the deputy director's final determination under this section in writing.

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Cite this article: FindLaw.com - Arizona Revised Statutes Title 6. Banks and Financial Institutions § 6-217. Emergency acquisition of in-state financial institution - last updated January 01, 2025 | https://codes.findlaw.com/az/title-6-banks-and-financial-institutions/az-rev-st-sect-6-217/

FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.

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