6-865. Unsafe condition; receivership
78 words·~1 min read·
/az/title-6/6-865A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
If the deficiency in capital has not been made good or the trust company is in an unsafe or unsound condition that is not remedied within the time prescribed under an order of the deputy director issued pursuant to section 6-137, the deputy director may apply to the superior court to be appointed receiver for the liquidation or rehabilitation of the company. The expense of such receivership shall be paid out of the assets of the trust company.