AZ HB2055

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

Allows banks to deposit cash held as fiduciary on time or demand accounts with themselves or other FDIC-insured banks.

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 the amount of the deposit.

Makes a technical correction to cross-reference Section 6-245, subsection C, regarding security requirements for fiduciary fund deposits.