AZ SB1110

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

Allows cash held by a bank as fiduciary to be deposited on time or demand account with itself or another bank whose deposits are insured by the federal deposit insurance corporation.

Requires banks depositing fiduciary funds with themselves to secure such deposits with securities described in Section 6-352, subsection D, paragraph 2, or other superintendent-approved security in an amount equal to the deposit.

Makes a technical correction by changing reference from "subsection A" to "subsection D" and clarifying the citation to Section 6-245, subsection C regarding security requirements.