Arizona § 6-181 - Declaration of purposes

§ 6-181. Declaration of purposes

The purposes of this chapter, which shall govern judicial and administrative interpretation and application of the provisions of this chapter, are to provide for:

1. Safe and sound conduct of banks.

2. Conservation of bank assets.

3. Maintenance of public confidence in banks.

4. Protection of the interests of depositors and fiduciary beneficiaries and of the interest of the public in the soundness and preservation of the banking system.

5. Opportunity for banks to remain competitive with each other, with financial institutions existing under other laws of this state and with banking and financial institutions existing under the laws of other states, the United States and foreign countries.

6. Opportunity for banks to serve effectively the convenience and needs of their depositors, borrowers and other customers, to participate in and promote the economic progress of this state and the United States and to improve and expand their services and facilities for those purposes.

7. Opportunity for management of banks to exercise business judgment in conducting banking affairs subject to this chapter.

8. Simplification and modernization of the law governing banking and governing the exercise of fiduciary and other representative powers by banks.

9. Implementation and execution of this chapter by the full utilization of the rulemaking and administrative discretions of the deputy director.