Arizona Revised Statutes Title 6. Banks and Financial Institutions § 6-321. Definitions

1. “Acquire” as applied to an in-state financial institution means any of the following actions or transactions:

2. “Control” means direct or indirect ownership of or power to vote twenty-five percent or more of the outstanding voting shares of an in-state financial institution or to control in any manner the election of a majority of the directors of an in-state financial institution.

3. “De novo entry” means a newly established bank or savings and loan association which is not created through the acquisition of or merger with an in-state financial institution and control is through an out-of-state financial institution.

4. “Filed with the division” means when the complete application including any amendments or supplements containing all the information in the form required by the division is received by the division.

5. “In-state financial institution” means a state or federal bank, savings bank or savings and loan association with its home office in this state, or holding company with its home office in this state.

6. “Out-of-state financial institution” means a state or federal bank, savings bank or savings and loan association with its home office in a state other than this state, or holding company with its home office in a state other than this state.