State SealARIZONA HOUSE OF REPRESENTATIVES

 

HB 2061: financial institutions department; superintendent duties

PRIME SPONSOR: Representative Shope, LD 8

BILL STATUS: Banking & Insurance

 

Legend: ADFI – Arizona Department of Financial Institutions Amendments – BOLD and Stricken (Committee)

Abstract

☐ Prop 105 (45 votes) ☐ Prop 108 (40 votes) ☐ Emergency (40 votes) ☐ Fiscal NoteRelating to examinations of financial enterprises.

Provisions

1.       Removes the mandatory examination time periods for certain financial enterprises. (Sec. 1)

2.       Makes a conforming change. (Sec. 1)

Current Law

Pursuant to A.R.S. § 6-121, financial institutions and enterprises are subject to examination and supervision by ADFI.

A.R.S. § 6-122 outlines the duties of the Superintendent of ADFI, which include:

a.       To examine financial institutions and enterprises within statutorily defined time periods;

b.       Publish a consumer information brochure; and

c.        Make it a priority to encourage the growth of state-chartered financial institutions.

d.        

e.        

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g.       Fifty-third Legislature                  HB 2061

h.       Second Regular Session                               Version 1: Banking & Insurance

i.          

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