Arizona Laws 6-128. Joint examinations; acceptance of federal regulatory and other authorized examinations
A. The examination of a financial institution or enterprise may be made in coordination with any authorized federal examination or an examination by another state. The deputy director in the deputy director’s discretion may accept the examination report or other information compiled or generated by a federal regulatory authority or by another state regulatory authority that has jurisdiction over the financial institution or enterprise in lieu of any examination authorized or required by the laws of this state. Acceptance of the examination reports shall not be a waiver of the examination assessments provided by law, and reports so accepted are considered for all purposes as an official report of the department.
Terms Used In Arizona Laws 6-128
- Action: includes any matter or proceeding in a court, civil or criminal. See Arizona Laws 1-215
- Department: means the department of insurance and financial institutions. See Arizona Laws 6-101
- Deputy director: means the deputy director of the financial institutions division of the department. See Arizona Laws 6-101
- Enterprise: means any person under the jurisdiction of the department other than a financial institution. See Arizona Laws 6-101
- Financial institution: means banks, trust companies, savings and loan associations, credit unions, consumer lenders, international banking facilities and financial institution holding companies under the jurisdiction of the department. See Arizona Laws 6-101
- including: means not limited to and is not a term of exclusion. See Arizona Laws 1-215
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
B. The deputy director may take any reasonable and lawful action to coordinate the examination of financial institutions or enterprises, including:
1. Negotiating and entering into cooperative agreements with an agency of another state or of the federal government.
2. Sharing information and reports with persons as prescribed by section 6-129.