Arizona Revised Statutes § 6-410 Superintendent's Approval And Issuance Of Permit To Organize

6-410. Superintendent's approval and issuance of permit to organize

The superintendent shall not approve the application and issue a permit to organize unless he shall find:

1. A need exists for an association, and that the public convenience and advantage will be promoted by the proposed association, in the community or area of operation stated in the application.

2. The proposed capital meets the requirements of this chapter.

3. The general character of the proposed management is such as to assure reasonable probability of the success of the association.

4. The name of the proposed association is not the same as, or deceptively similar to, the name of any other association or bank in the community or area of operation.

5. Such association can be established without undue injury to properly conducted existing associations.

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Last modified: October 13, 2016