Code · Arizona · Title 6 — Banks and Financial Institutions

6-205. Term of permit; surrender; revocation

71 words·~1 min read·/az/title-6/6-205

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

A. A banking permit shall be valid until surrendered to the deputy director or revoked by the deputy director.

B. A banking permit may not be surrendered to the deputy director until such time as the deputy director finds that all of the deposit liabilities of the bank have been satisfied in full or assumed by another bank.

C. A banking permit expires automatically when a bank is placed in receivership.