A. A trust company shall have at least three directors. The shareholders of the company shall elect all of the directors.

Terms Used In Arizona Laws 6-854.02

  • Deputy director: means the deputy director of the financial institutions division of the department. See Arizona Laws 6-101
  • Trust company: means a corporation holding a certificate issued under this article. See Arizona Laws 6-851

B. Unless the articles of incorporation provide otherwise, the board of directors may adopt or amend the bylaws as long as the bylaws adopted or amended by the board do not conflict with the bylaws adopted by the shareholders. The board of directors shall file a current copy of the bylaws with the deputy director.