AZ HB2305

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

Allows banks to deposit cash held in a fiduciary capacity into time or demand accounts with themselves or other federally 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 equal to the deposit amount.

Makes a technical correction to the reference citation from "subsection C of section 6-245" to "section 6-245, subsection C."