A. A credit union shall keep and use in its business those books, accounts and records that will enable the deputy director to readily ascertain the true financial condition of the credit union and whether the credit union is complying with this chapter.

Terms Used In Arizona Laws 6-503

  • Credit union: means a cooperative nonprofit association that is incorporated under this chapter for the purposes of encouraging thrift among its members and creating a source of credit and other financial services at fair and reasonable cost. See Arizona Laws 6-501
  • Deputy director: means the deputy director of the financial institutions division of the department. See Arizona Laws 6-101

B. A credit union and any of its officers, directors, employees and agents shall give the deputy director full access to all books, papers, securities, records and other sources of information under their control. All books and records of the credit union shall be maintained at the address of the credit union as filed with the deputy director.

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