Arizona § 6-394 Prohibited ownership or control of a financial institution and interest in insurer insuring deposits; assets and reserves of insurer

Arizona Statutes

§ 6-394 — Prohibited ownership or control of a financial institution and interest in insurer insuring deposits; assets and reserves of insurer

Arizona § 6-394

Title 6Arizona Revised Statutes

Ch. 2BANK ORGANIZATION AND REGULATION

Art. 12Prohibited Practices; Penalties

This text of Arizona § 6-394 (Prohibited ownership or control of a financial institution and interest in insurer insuring deposits; assets and reserves of insurer) 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. § 6-394 (2026).

Text

A.No person may own or control a financial institution and at the same time have an interest in an insurer that directly or indirectly insures or purports to insure the deposit accounts of the financial institution.

B.No insurer of the deposit accounts of a financial institution other than a federal insurance corporation shall have and maintain assets and reserves equaling less than fifty per cent of the withdrawal accounts or investment certificates of the insured financial institution.

Free access — add to your briefcase to read the full text and ask questions with AI

A. No person may own or control a financial institution and at the same time have an interest in an insurer that directly or indirectly insures or purports to insure the deposit accounts of the financial institution.

B. No insurer of the deposit accounts of a financial institution other than a federal insurance corporation shall have and maintain assets and reserves equaling less than fifty per cent of the withdrawal accounts or investment certificates of the insured financial institution.