Arizona § 6-328 - Deposit concentration limits
Full text of Arizona Arizona Revised Statutes § 6-328 — Deposit concentration limits, with citation guidance and answers to common questions.
§ 6-328. Deposit concentration limits
A. Neither an out-of-state financial institution nor an in-state financial institution shall acquire another out-of-state financial institution or in-state financial institution if either of the following conditions exist:
1. The resulting out-of-state financial institution, in-state financial institution or affiliation would control thirty percent or more of the bank deposits held in this state.
2. One of the out-of-state financial institutions or in-state financial institutions in the acquisition already controls thirty percent or more of the bank deposits held in this state.
B. Subsection A of this section does not apply to any interstate acquisition involving only already affiliated entities.
C. The deputy director, by order and on findings of fact and conclusions of law, may waive the deposit concentration limit prescribed by subsection A of this section. In determining whether to waive the deposit concentration limit, the deputy director shall not discriminate against out-of-state financial institutions and shall not grant a waiver unless the deputy director finds that the waiver will promote any of the following:
1. The availability of financial services.
2. The marketability of in-state financial institutions.
3. Another public interest.
Frequently Asked Questions About Arizona § 6-328
What does Arizona Revised Statutes § 6-328 cover?
Section 6-328 ("Deposit concentration limits") 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 § 6-328?
A common citation format is "Arizona Revised Statutes § 6-328" (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 § 6-328 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.