Arizona § 6-558 Member account insurance

Arizona Statutes

§ 6-558 — Member account insurance

Arizona § 6-558

Title 6Arizona Revised Statutes

Ch. 4CREDIT UNIONS

Art. 6Accounts

This text of Arizona § 6-558 (Member account insurance) 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. § 6-558 (2026).

Text

A.Before the incorporators of a credit union forward the organization documents to the deputy director, as required by section 6-506, they shall apply for insurance on share and deposit accounts from an insuring organization.

B.The deputy director shall not grant a certificate of approval to form a credit union unless the proposed credit union has obtained a commitment for insurance on member accounts.

C.A credit union may not begin operations as a credit union or continue operations without share and deposit account insurance acceptable to the deputy director.

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

A. Before the incorporators of a credit union forward the organization documents to the deputy director, as required by section 6-506, they shall apply for insurance on share and deposit accounts from an insuring organization.

B. The deputy director shall not grant a certificate of approval to form a credit union unless the proposed credit union has obtained a commitment for insurance on member accounts.

C. A credit union may not begin operations as a credit union or continue operations without share and deposit account insurance acceptable to the deputy director.