6-271. Reserves against deposits; rule; limitations
44 words·~1 min read·
/az/title-6/6-271A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Banks that are not members of the federal reserve system shall maintain such legal reserves as are from time to time fixed by rule of the deputy director, not to exceed fourteen percent of demand deposits or seven percent of time and savings deposits.