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Can you summarize AZRS 6-190?
Bank offices; standards and term of approval; closing; automated teller machines
Short Summary
This legal document, part of the Arizona Revised Statutes, governs the establishment and operation of bank offices. It states that a bank may establish banking offices anywhere in the world with the authorization of the deputy director, subject to prescribed conditions. The application for a banking office must be in writing and supported by the necessary information and records. The deputy director will grant the application based on the standards prescribed for issuing a banking permit. If a bank fails to open and operate a banking office within one year of approval, the approval will automatically terminate, unless an extension is granted for valid reasons. The document also allows banks to permanently close some of their banking offices, subject to prescribed notice requirements. Additionally, banks can establish and maintain automated teller machines (ATMs) at locations other than their places of business, with a notification letter sent to the deputy director. Furthermore, banks can join in the operation of ATM networks through contractual agreements with other banks or ATM providers.
Whom does it apply to?
Banks
What does it govern?
Bank offices, standards and term of approval, closing, automated teller machines
What are exemptions?
No exemptions are mentioned.
What are the Penalties?
No penalties are mentioned.
Jurisdiction
Arizona