Before determining whether a person controls another person or before denying or approving an application for approval to acquire control of a bank, trust company, savings and loan association or controlling person the deputy director may hold a hearing. Notice of such hearing shall be given by the deputy director to the applicant, the bank, trust company, savings and loan association or controlling person concerned and to such other persons as the deputy director determines appropriate. The date for commencement of the hearing shall not be later than thirty days after the date of the notice, unless the applicant consents to an extension of such period.

lawyer at desk

Ask a legal question, get an answer ASAP!
Click here to chat with a lawyer about your rights.

Terms Used In Arizona Laws 6-149

  • Bank: means a corporation that holds a banking permit issued pursuant to chapter 2 of this title. See Arizona Laws 6-101
  • Control: means direct or indirect ownership of or power to vote twenty-five percent or more of the outstanding voting securities of a bank, trust company, savings and loan association or controlling person or to control in any manner the election of a majority of the directors of a bank, trust company, savings and loan association or controlling person. See Arizona Laws 6-141
  • Controlling person: means any person directly or indirectly in control of a bank, trust company or savings and loan association. See Arizona Laws 6-141
  • Deputy director: means the deputy director of the financial institutions division of the department. See Arizona Laws 6-101
  • Person: means an individual, corporation, partnership, association, trust or agency or any similar entity. See Arizona Laws 6-141
  Previous section
Next section  
 Article 4 Contents