6-331. Enforcement
122 words·~1 min read·
/az/title-6/6-331A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
A. If the deputy director determines that a branch that is maintained in this state by an out-of-state bank is being operated in violation of any law of this state or any rule adopted by this state or that the branch is being operated in an unsafe or unsound manner, the deputy director has authority to take all enforcement actions against that branch as if the branch were regulated pursuant to section 6-201.
B. The deputy director shall promptly notify the regulatory agency of the out-of-state bank's home state of each enforcement action taken against the out-of-state bank and to the extent practicable shall consult and cooperate with the regulatory agencies of the out-of-state bank in pursuing and resolving any enforcement actions.