Arizona Revised Statutes § 6-865 Unsafe Condition; Receivership

66-865. Unsafe condition; receivership

If the deficiency in capital has not been made good or the trust company is in an unsafe or unsound condition that is not remedied within the time prescribed under an order of the superintendent issued pursuant to section 6-137, the superintendent may apply to the superior court to be appointed receiver for the liquidation or rehabilitation of the company. The expense of such receivership shall be paid out of the assets of the trust company.

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Last modified: October 13, 2016