Arizona § 15-1485 - Monies of institution
Full text of Arizona Arizona Revised Statutes § 15-1485 — Monies of institution, with citation guidance and answers to common questions.
§ 15-1485. Monies of institution
No monies derived from the sale of bonds under the provisions of this article shall be required to be paid into the state treasury but shall be deposited by the treasurer of the board in a separate bank account or accounts in such bank or banks or trust company or trust companies as may be designated by the board, and all deposits of such monies shall, if required by the board, be secured by obligations of the United States of America of a market value equal at all times to the amount of the deposit, and all banks and trust companies are authorized to give such security. Such monies shall be considered as held for and on behalf of the institution for which the bonds have been issued. Such monies shall be disbursed as may be directed by the board and in accordance with the terms of any agreements with the holder or holders of any bonds. This section shall not be construed as limiting the power of the board to agree in connection with the issuance of the bonds as to the custody and disposition of the monies received from the sale of such bonds or the income and revenue pledged and assigned to or in trust for the benefit of the holder or holders thereof.
Source: official Arizona text · Last verified 2026-08-27
Frequently Asked Questions About Arizona § 15-1485
What does Arizona Revised Statutes § 15-1485 cover?
Section 15-1485 ("Monies of institution") is part of the Arizona Revised Statutes, the codified statutory law of Arizona. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Arizona § 15-1485?
A common citation format is "Arizona Revised Statutes § 15-1485" (Arizona). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Arizona law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Arizona official source linked on this page or consult a licensed Arizona attorney.
How does Arizona § 15-1485 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Arizona can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Arizona.