SB1262 amends Arizona Revised Statutes to clarify the scope of business operations for savings and loan associations.
SB1262 amends section 6-403 of the Arizona Revised Statutes to clarify that no person or group of persons shall transact business within the scope of this chapter, do any business under any name or title, circulate or use any advertising, make any representation, or give any information to any person that indicates or reasonably implies the operation of a business that is within the scope of this chapter. Additionally, it prohibits foreign savings and loan associations or savings banks from maintaining an office in Arizona to transact business.
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