Arizona Revised Statutes Title 6. Banks and Financial Institutions § 6-852. Exemptions and allowed activities

1. Rendering services as an attorney-at-law in the performance of the person's duties as such.

2. Acting as trustee under a deed of trust made only as security for the payment of money or for the performance of another act.

3. Acting as a trustee in bankruptcy or as a receiver.

4. Holding trusts of real estate for the primary purpose of subdivision, development or sale, or to facilitate any business transaction with respect to such real estate, provided such person is not regularly engaged in the business of acting as a trustee for such trusts.

5. Engaging in the business of a debt management company to the extent of the activities for which it is licensed under chapter 6 of this title.  1

6. Engaging in the business of an escrow agent to the extent of the activities for which it is licensed under chapter 7 of this title.  2

7. Holding assets as trustee of trusts created for charitable purposes.

8. Receiving rents and proceeds of sale as a licensed real estate broker on behalf of a principal.

9. Engaging in securities transactions as a dealer or salesman registered under title 44, chapter 12.  3

10. Acting as a guardian, conservator, special conservator, trustee or personal representative pursuant to a court order under title 14 or 36.  4

1. The duties of the bank, savings and loan association or credit union as trustee or custodian are essentially custodial or ministerial in nature.

2. The bank, savings and loan association or credit union is required to invest the funds from such plans only in its own time or savings deposits or shares.