Arizona § 6-557 - Liens
Full text of Arizona Arizona Revised Statutes § 6-557 — Liens, with citation guidance and answers to common questions.
§ 6-557. Liens
A. A credit union has a lien on the share and deposit accounts and accumulated dividends of a member for any amount owed the credit union by the member and for any loan endorsed by the member. The credit union has a right of immediate setoff with respect to each share and deposit account on default of the owner of the account in an obligation owed to the credit union.
B. The credit union may waive its rights to a lien, to immediate setoff, to restrict withdrawals or to any combination of these rights with respect to any share or deposit account.
Frequently Asked Questions About Arizona § 6-557
What does Arizona Revised Statutes § 6-557 cover?
Section 6-557 ("Liens") 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 § 6-557?
A common citation format is "Arizona Revised Statutes § 6-557" (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 § 6-557 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.