The Arizona Revised Statutes have been updated to include the revised sections from the 54th Legislature, 1st Regular Session. Please note that the next update of this compilation will not take place until after the conclusion of the 54th Legislature, 2nd Regular Session, which convenes in January 2020.
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.
6-193 - Bank and holding company subsidiaries; powers
6-193. Bank and holding company subsidiaries; powers
A subsidiary of a bank or a nonbank subsidiary of a holding company may:
1. Deal in and underwrite all obligations issued or guaranteed by or on behalf of a state or a political subdivision of a state or an agency or instrumentality of either a state or political subdivision.
2. Organize, sponsor, operate and control an investment company, as defined in section 3 of the investment company act of 1940 (15 United States Code section 80a-3), and underwrite, deal in, sell and distribute, as principal or agent, or both, the securities of such an investment company.
3. Deal in and underwrite:
(a) Promissory notes secured by real estate mortgages.
(b) Credit obligations secured by real or personal property or manufactured housing.
(c) Participation interests in such notes and credit obligations.
(d) Mortgage related payment bonds secured by such notes or participation interests.
4. Underwrite, deal in, sell and distribute, as principal or agent, or both, commercial paper issued by any entity.