Arizona § 6-246 - Permitted investments; limitations
Full text of Arizona Arizona Revised Statutes § 6-246 — Permitted investments; limitations, with citation guidance and answers to common questions.
§ 6-246. Permitted investments; limitations
A. In addition to other investments authorized by law, a bank or trust company that is acting as a fiduciary may invest and reinvest in the securities of an open-end or closed-end management investment company or investment trust that is registered under the investment company act of 1940 (15 United States Code section 80a-1), as amended, if the portfolios of that investment company or investment trust consist of investments permitted by the applicable fiduciary instrument. A bank or trust company may invest in these securities notwithstanding that the bank or trust company, or an affiliate of the bank or trust company, provides services to the investment company or investment trust as an investment adviser, custodian, transfer agent, registrar, sponsor, distributor, administrator, manager or otherwise and receives reasonable remuneration for those services.
B. A bank or trust company that invests and reinvests in the securities of an open-end or closed-end management investment company or investment trust authorized under subsection A of this section shall disclose in the statement of the fiduciary account to all persons whose funds are invested in the investment company or investment trust that the bank or trust company provides services for and receives fees from the open-end or closed-end management company or investment trust. A person who complies with the requirements of section 14-10802, subsection F satisfies the disclosure requirements of this subsection.
C. A bank may purchase for its own account any class of equity securities issued by a banker's bank, as defined in section 6-204, if the aggregate investment does not exceed ten per cent of the bank's capital.
Source: official Arizona text · Last verified 2026-08-27
Frequently Asked Questions About Arizona § 6-246
What does Arizona Revised Statutes § 6-246 cover?
Section 6-246 ("Permitted investments; limitations") 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 § 6-246?
A common citation format is "Arizona Revised Statutes § 6-246" (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 § 6-246 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.