SB1090 amends Arizona law to clarify the scope of business operations for savings and loan associations.
SB1090 amends section 6-403 of the Arizona Revised Statutes to clarify that no person or group can transact business within the scope of this chapter without authorization. It also prohibits foreign savings and loan associations or savings banks from maintaining an office in Arizona to conduct business. This technical correction aims to ensure compliance with state regulations for financial institutions.
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