The Arizona Revised Statutes have been updated to include the revised sections from the 56th Legislature, 1st Regular Session. Please note that the next update of this compilation will not take place until after the conclusion of the 56th Legislature, 2nd Regular Session, which convenes in January 2024.
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This online version of the Arizona Revised Statutes is primarily maintained for legislative drafting purposes and reflects the version of law that is effective on January 1st of the year following the most recent legislative session. The official version of the Arizona Revised Statutes is published by Thomson Reuters.
35-1202 - Powers of the statewide collateral pool administrator
35-1202. Powers of the statewide collateral pool administrator
The statewide collateral pool administrator is established in the office of the state treasurer. On or before July 1, 2014, the administrator shall have the necessary policies and procedures in place to implement this chapter. The administrator may:
1. Adopt and enforce the policies and procedures necessary to carry out this chapter. Any policies set forth by the administrator shall be developed, including a comment period, in consultation with financial institutions that serve as eligible depositories and public depositors.
2. Prescribe and enforce policies fixing the terms and conditions under which uninsured public deposits must be secured by collateral under this chapter.
3. Require any eligible depository to provide information concerning its public deposits as requested by the administrator.
4. Determine when a default or insolvency has occurred and take such action as the administrator may deem advisable for the protection, collection, compromise or settlement of any claim arising in case of default or insolvency.