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.
6-410 - Deputy director's approval and issuance of permit to organize
6-410. Deputy director's approval and issuance of permit to organize
The deputy director shall not approve the application and issue a permit to organize unless the deputy director finds:
1. A need exists for an association, and that the public convenience and advantage will be promoted by the proposed association, in the community or area of operation stated in the application.
2. The proposed capital meets the requirements of this chapter.
3. The general character of the proposed management is such as to assure reasonable probability of the success of the association.
4. The name of the proposed association is not the same as, or deceptively similar to, the name of any other association or bank in the community or area of operation.
5. Such association can be established without undue injury to properly conducted existing associations.