Arizona § 6-148 Failure to act on application as approval

Arizona Statutes

§ 6-148 — Failure to act on application as approval

Arizona § 6-148

Title 6Arizona Revised Statutes

Ch. 1FINANCIAL INSTITUTIONS DIVISION

Art. 4Acquisition of Control of a Bank, Trust Company or Savings and Loan Association

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Bluebook

Ariz. Rev. Stat. Ann. § 6-148 (2026).

Text

A.Notwithstanding any other provision of this article, any application for approval to acquire control of a bank, trust company, savings and loan association or controlling person that is not denied or approved by the deputy director within a period of sixty days after such application is filed with the deputy director or if the applicant consents to an extension of the period within which the deputy director may act, within such extended period, shall be deemed to be approved by the deputy director as of the first day after such period of sixty days or such extended period. If the deputy director gives notice of a hearing, the sixty-day period shall be extended to such date as may be fixed by order of the deputy director.

B.For purposes of this section, an application for approval is d

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A. Notwithstanding any other provision of this article, any application for approval to acquire control of a bank, trust company, savings and loan association or controlling person that is not denied or approved by the deputy director within a period of sixty days after such application is filed with the deputy director or if the applicant consents to an extension of the period within which the deputy director may act, within such extended period, shall be deemed to be approved by the deputy director as of the first day after such period of sixty days or such extended period. If the deputy director gives notice of a hearing, the sixty-day period shall be extended to such date as may be fixed by order of the deputy director.

B. For purposes of this section, an application for approval is deemed to be filed with the deputy director at the time when the complete application, including any amendments or supplements, containing all the information in the form required by the deputy director, is received by the deputy director.