Can you summarize AZRS 6-329?

Short Summary

A. Except as prescribed by subsection B of this section, a person shall not establish or operate a deposit production office or similar office in this state for the purpose of soliciting deposits or similar evidence of indebtedness or participation interests in indebtedness. B. This section does not apply to activities conducted at the main office or a branch of an affiliated financial institution that is acting as an agent as prescribed by section 6-184. C. In determining whether an activity is prohibited by this section, the deputy director shall consider the factors specified in the Riegle-Neal interstate banking and branching efficiency act of 1994, section 109 (c)(2) (P.L. 103-328; 108 Stat. 2338; 12 United States Code section 1835a(c)(2)).

Jurisdiction

Arizona

Source

• Banking