SB 1151 Summary

• Amends Arizona Revised Statutes sections 6-132 and 6-133 regarding violations and penalties for banks and financial institutions.

• Modifies section 6-132 to remove the provision that "each day of violation constitutes a separate offense" from civil penalty assessments.

• Changes section 6-133(A) to classify knowing violations of banking laws as Class 1 misdemeanors instead of Class 6 felonies.

• Reduces penalties in section 6-133(B) and (C) for false statements, misrepresentations, and false entries from Class 3 felonies to Class 4 felonies.