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AZ SB1430

Bill

Status

Introduced

2/2/2010

Primary Sponsor

Albert Hale

Click for details

Origin

Senate

Forty-ninth Legislature - Second Regular Session (2010)

AI Summary

  • Amends Arizona Revised Statutes section 6-384 regarding deposit of fiduciary funds held by banks.

  • Corrects reference from subsection A to subsection D of section 6-352, paragraph 2, regarding securities that may secure fiduciary deposits.

  • Clarifies that banks depositing fiduciary funds with themselves must secure deposits with approved securities in the amount of the deposit, subject to section 6-245, subsection C.

  • Makes technical corrections to statutory cross-references and subsection citations related to fiduciary fund deposit requirements.

Legislative Description

Fiduciary funds; deposits; technical correction

Last Action

Referred to Senate ED Committee

2/4/2010

Full Bill Text

No bill text available