Arizona Revised Statutes § 6-190 Bank Offices; Standards And Term Of Approval; Closing; Automated Teller Machines

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 superintendent and upon such conditions as he may prescribe. An application for a banking office shall be in writing in such form as the superintendent prescribes supported by such information, data and records as the superintendent may require to make the findings necessary for approval.

B. In granting the application for a banking office the superintendent 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 superintendent approves the application shall automatically terminate the approval, except that the superintendent, 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 superintendent 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 superintendent at least thirty days before the automated teller machine is established pursuant to this subsection.

F. A bank may, without the approval of the superintendent and through contractual agreement with one or more other banks or automated teller machine providers, join in the operation of automated teller machine networks.

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Last modified: October 13, 2016