Arizona § 6-215 Retention of nonconforming assets; permission; maximum value

Arizona Statutes

§ 6-215 — Retention of nonconforming assets; permission; maximum value

Arizona § 6-215

Title 6Arizona Revised Statutes

Ch. 2BANK ORGANIZATION AND REGULATION

Art. 3Merger, Consolidation and Conversion of National and State Banks

This text of Arizona § 6-215 (Retention of nonconforming assets; permission; maximum value) is published on Counsel Stack Legal Research, covering Arizona primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ariz. Rev. Stat. Ann. § 6-215 (2026).

Text

If a merging or converting bank has assets that do not conform to the requirements of law for a state bank or if assets acquired by a state bank in the transaction of its assuming deposit liabilities of another bank do not conform to such legal requirements, the deputy director may allow the resulting bank to retain such assets for a reasonable time, but shall fix the maximum value at which the assets may be carried by the resulting or assuming bank.

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If a merging or converting bank has assets that do not conform to the requirements of law for a state bank or if assets acquired by a state bank in the transaction of its assuming deposit liabilities of another bank do not conform to such legal requirements, the deputy director may allow the resulting bank to retain such assets for a reasonable time, but shall fix the maximum value at which the assets may be carried by the resulting or assuming bank.