Arizona § 20-632 Deposit of monies collected

Arizona Statutes

§ 20-632 — Deposit of monies collected

Arizona § 20-632

Title 20Arizona Revised Statutes

Ch. 3FINANCIAL PROVISIONS AND PROCEDURES

Art. 4Rehabilitation and Liquidation

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Bluebook

Ariz. Rev. Stat. Ann. § 20-632 (2026).

Text

The monies collected by the receiver in a proceeding under this article shall be from time to time deposited in one or more state or national banks, savings banks or trust companies, and in the case of the insolvency or voluntary or involuntary liquidation of any such depositary which is an institution organized and supervised under the laws of this state, such deposits shall be entitled to priority of payment on an equality with any other priority given by the banking laws of this state. The receiver may deposit such monies or any part thereof in a national bank or trust company as a trust fund.

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The monies collected by the receiver in a proceeding under this article shall be from time to time deposited in one or more state or national banks, savings banks or trust companies, and in the case of the insolvency or voluntary or involuntary liquidation of any such depositary which is an institution organized and supervised under the laws of this state, such deposits shall be entitled to priority of payment on an equality with any other priority given by the banking laws of this state. The receiver may deposit such monies or any part thereof in a national bank or trust company as a trust fund.