A. Instead of an examination prescribed by section 6-122, the deputy director may accept the examination report of a federal or state agency that has regulatory or supervisory authority over the trust company. The deputy director’s acceptance of the examination report does not constitute a waiver of the licensing fees and assessments provided by law. An accepted examination report becomes an official report of the department.

Terms Used In Arizona Laws 6-870.01

  • 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
  • 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.
  • Trust company: means a corporation holding a certificate issued under this article. See Arizona Laws 6-851

B. The deputy director may enter into cooperative agreements and take joint action with other regulatory or supervisory authorities that have concurrent jurisdiction over a trust company.

  Previous section
Next section  
 Article 1 Contents