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.
13-2207 - Receiving deposits in an insolvent financial institution; classification
13-2207. Receiving deposits in an insolvent financial institution; classification
A. A person commits receiving deposits in an insolvent financial institution if, as an officer, manager or other person participating in the direction of a financial institution, such person receives or permits the receipt of a deposit, premium payment or investment in the institution in excess of the amount insured by the federal deposit insurance corporation, the federal savings and loan insurance corporation or the national credit union administration knowing that the institution is insolvent.
B. It is a defense to prosecution under this section that the person making the deposit, premium payment or investment was fully informed of the financial condition of the institution.
C. Receiving deposits in an insolvent financial institution is a class 5 felony.