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6-395.13 Voluntary Liquidation And Dissolution

6-395.13. Voluntary liquidation and dissolution

A bank may voluntarily dissolve and wind up its affairs as any other corporation under the provisions of title 10, but no plan of liquidation or dissolution shall be submitted to the stockholders until the superintendent upon application by the bank finds that the bank has assets of such form and amount as to permit the satisfaction in full of the claims of all depositors in accordance with their rights and that the plan contains proper provision for such satisfaction.

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Local Government
Arizona
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Doug Ducey
Doug Ducey
January 5, 2015 -
Republican
602-926-3620
1700 West Washington Street, Phoenix, AZ, 85007

Keywords
bank
plan
satisfaction
proper
finds
contains
form
depositors
application
stockholders