Arizona § 6-469 Election of liquidators; report; supervision

Arizona Statutes

§ 6-469 — Election of liquidators; report; supervision

Arizona § 6-469

Title 6Arizona Revised Statutes

Ch. 3SAVINGS AND LOAN ASSOCIATIONS

Art. 7Voluntary Liquidation

This text of Arizona § 6-469 (Election of liquidators; report; supervision) 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. § 6-469 (2026).

Text

A.On adoption of a plan of voluntary liquidation, the members shall proceed to elect, with cumulative voting allowed as in elections of directors, not more than three liquidators, who shall have full power to execute the plan. The procedure thereafter shall be as follows:

1.A report of proceedings at the meeting of members, certified by the presiding officer of the meeting and attested by the secretary of the meeting, and setting forth the notice given and time of mailing thereof, the vote on the plan of voluntary liquidation, the total number of votes that all members of the association were entitled to cast thereon, and the names of the liquidators elected, shall be filed in triplicate with the deputy director, together with the plan.

2.If the deputy director finds that the plan and

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

A. On adoption of a plan of voluntary liquidation, the members shall proceed to elect, with cumulative voting allowed as in elections of directors, not more than three liquidators, who shall have full power to execute the plan. The procedure thereafter shall be as follows:

1. A report of proceedings at the meeting of members, certified by the presiding officer of the meeting and attested by the secretary of the meeting, and setting forth the notice given and time of mailing thereof, the vote on the plan of voluntary liquidation, the total number of votes that all members of the association were entitled to cast thereon, and the names of the liquidators elected, shall be filed in triplicate with the deputy director, together with the plan.

2. If the deputy director finds that the plan and proceedings are in accordance with this article, that the bonds of the liquidators are sufficient, and that the plan is not unfair to any person affected, the deputy director shall attach the deputy director's certificate of approval to the plan and shall forward one copy to the liquidators, and in the case of an insured association, one copy to the insurance corporation.

3. The expenses of any examination made by or at the direction of the deputy director in connection with any voluntary dissolution shall be paid as a claim by the liquidators in accordance with the fees fixed for special examinations by section 6-125.

4. The plan shall become effective on filing with the corporation commission of the deputy director's certificate of approval.

B. The liquidation of the association shall be subject to the supervision and examination of the deputy director.