Before determining whether a person controls another person or before denying or approving an application for approval to become a financial institution holding company the deputy director may hold a hearing. The deputy director shall give notice of the hearing to the applicant, the financial institution or controlling person concerned and to such other persons as the deputy director determines appropriate. The date for commencement of the hearing shall be not later than thirty days after the date of the notice, unless the applicant consents to an extension of the period.

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Terms Used In Arizona Laws 6-1109

  • Application: means an application which is made pursuant to this article for approval of the deputy director to become a financial institution holding company. See Arizona Laws 6-1101
  • Controlling person: means a person who is directly or indirectly in control of a financial institution. See Arizona Laws 6-1101
  • Deputy director: means the deputy director of the financial institutions division of the department. See Arizona Laws 6-101
  • Financial institution: means a bank, trust company, savings and loan association, international banking facility and holding company of a bank, trust company, savings and loan association and international banking facility under the jurisdiction of the department. See Arizona Laws 6-1101
  • Person: includes a corporation, company, partnership, firm, association or society, as well as a natural person. See Arizona Laws 1-215
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