The Arizona Revised Statutes have been updated to include the revised sections from the 54th Legislature, 2nd Regular Session. Please note that the next update of this compilation will not take place until after the conclusion of the 55th Legislature, 1st Regular Session, which convenes in January 2021.
This online version of the Arizona Revised Statutes is primarily maintained for legislative drafting purposes and reflects the version of law that is effective on January 1st of the year following the most recent legislative session. The official version of the Arizona Revised Statutes is published by Thomson Reuters.
A. Notwithstanding any other provision of this article, any application for approval to acquire control of a bank, trust company, savings and loan association or controlling person which is not denied or approved by the superintendent within a period of sixty days after such application is filed with the superintendent or if the applicant consents to an extension of the period within which the superintendent may act, within such extended period, shall be deemed to be approved by the superintendent as of the first day after such period of sixty days or such extended period. If the superintendent gives notice of a hearing, the sixty-day period shall be extended to such date as may be fixed by order of the superintendent.
B. For purposes of this section, an application for approval is deemed to be filed with the superintendent at the time when the complete application, including any amendments or supplements, containing all the information in the form required by the superintendent, is received by the superintendent.