Arizona Laws 6-190. Bank offices; standards and term of approval; closing; automated teller machines
A. A bank may establish banking offices anywhere in the world with the authorization of the deputy director and on such conditions as the deputy director may prescribe. An application for a banking office shall be in writing in such form as the deputy director prescribes supported by such information, data and records as the deputy director may require to make the findings necessary for approval.
Terms Used In Arizona Laws 6-190
- Automated teller machine: means an automated device that is established by a bank, savings and loan association or credit union and that facilitates customer-bank communications activities, including taking deposits and disbursing cash drawn against a customer's deposit account or a customer's preapproved loan account, at a location separate from the home office or a branch. See Arizona Laws 6-101
- Bank: means a corporation that holds a banking permit issued pursuant to chapter 2 of this title. See Arizona Laws 6-101
- Banking office: means any place of business of the bank at which deposits are received, checks are paid or money is loaned but does not include the premises used for computer operations, proofing, record keeping, accounting, storage, maintenance or other administrative or service functions. See Arizona Laws 6-101
- Deputy director: means the deputy director of the financial institutions division of the department. See Arizona Laws 6-101
- Writing: includes printing. See Arizona Laws 1-215
B. In granting the application for a banking office, the deputy director shall be guided by the standards prescribed for the issuance of a banking permit insofar as such standards are reasonably applicable.
C. The failure of a bank to open and operate a banking office within one year after the deputy director approves the application shall automatically terminate the approval, except that the deputy director, for good cause shown in writing made before the expiration of the one-year period, may extend for additional periods not in excess of six months each the time in which the banking office may be opened.
D. A bank may permanently close less than all of its banking offices on compliance with such requirements of notice as have been prescribed by the deputy director and such closing shall terminate the authority to maintain the office which is closed.
E. A bank may establish or maintain an automated teller machine at locations other than its places of business. The bank must send a notification letter to the deputy director at least thirty days before the automated teller machine is established pursuant to this subsection.
F. A bank may, without the approval of the deputy director and through contractual agreement with one or more other banks or automated teller machine providers, join in the operation of automated teller machine networks.