Arizona § 6-395 - Possession by deputy director and receivership
Full text of Arizona Arizona Revised Statutes § 6-395 — Possession by deputy director and receivership, with citation guidance and answers to common questions.
§ 6-395. Possession by deputy director and receivership
If the status of a bank as an insured bank is terminated by the federal deposit insurance corporation or the deputy director finds that a bank is in such an unsafe or unsound condition that it is or will become unable to meet the anticipated demands of its depositors and that the condition cannot be corrected by the procedures of chapter 1, article 5 of this title or section 6-137, the deputy director may immediately take possession and control of the bank and in such event shall, through the attorney general, apply to the superior court for the appointment of a receiver for the bank. The court may act on the application forthwith and without notice to any person. If at any time the court finds that no ground for receivership exists, the receivership shall be dissolved and the deputy director's possession terminated.
Source: official Arizona text · Last verified 2026-08-27
Frequently Asked Questions About Arizona § 6-395
What does Arizona Revised Statutes § 6-395 cover?
Section 6-395 ("Possession by deputy director and receivership") 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 § 6-395?
A common citation format is "Arizona Revised Statutes § 6-395" (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 § 6-395 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.