reglab/housing_qa huggingface dataset:
AZ Rev Stat § 6-415 (2021)
2021 Arizona Revised Statutes|Title 6 - Banks and Financial Institutions|§ 6-415 - Members' meetings

6-415.  Members' meetings A. Each annual meeting of the members shall be held at the time specified in the articles of incorporation;  but the failure to hold an annual meeting at the time so specified shall not work a forfeiture or dissolution of the association. The board of directors,  or the holders of not less than twenty per cent of the outstanding guaranty shares or of the withdrawal value of all withdrawable capital of the association,  or such other person or persons as may be designated by the by-laws,  may call a special meeting of the members. Every annual or special meeting shall be held at the business office of the association,  or in such other place within the same county as shall be specifically designated in the notice of such meeting. Notice of an annual or any special meeting shall be published twice,  and the last publication shall be not less than ten days nor more than forty days before the date of the meeting. Such notice shall state the place,  day,  hour and purpose of the meeting. B. A quorum at any meeting of the members shall consist of the members present in person or represented by proxy,  who are entitled to cast a majority of the total number of votes which all members of the association are entitled to cast at such meeting;  except that the articles of incorporation may specify some other quorum requirement,  but not less than one-third of such total number of votes. Any meeting,  including one at which a quorum is not present,  may be adjourned by majority vote to a specified date without further notice. C. Voting at a meeting may be either in person or by proxy executed in writing by the shareholder or by his duly authorized attorney-in-fact. No proxy shall be valid after eleven months from the date of its execution,  unless otherwise specifically provided in the proxy. D. Unless the articles of incorporation provide otherwise,  in the determination of all questions requiring ascertainment of the members entitled to vote and of the number of outstanding shares,  the following rules shall apply: 1. The date of determination shall be as provided in section 6-416. 2. Each person holding one or more accounts shall have the vote of one share for each one hundred dollars of the aggregate withdrawal value of such accounts,  and shall have the vote of one share for any fraction of one hundred dollars. 3. Each holder of guaranty shares shall have one vote for each guaranty share which he holds. 4. Each borrowing member as such shall have the vote of one share in addition to any vote which he may have otherwise. 5. Shares owned by the association shall not be counted or voted.
AZ Rev Stat § 6-416 (2021)
2021 Arizona Revised Statutes|Title 6 - Banks and Financial Institutions|§ 6-416 - Record date for voting, dividend and other purposes

6-416.  Record date for voting,  dividend and other purposes For the purpose of determining the holders of accounts and of shares of guaranty capital,  and membership entitled to notice of or to vote at any meeting of the members,  or in order to make a determination of the members,  holders,  or other persons for any other proper purpose,  the by-laws may provide for a record date,  not less than ten days nor more than forty days before the meeting,  or other event or transaction with regard to which the determination is to be made;  and such determination shall be made as of the close of business on such record date. If the by-laws do not provide for a record date,  the board of directors may fix such a date for each such determination,  within the time stated above;  and if the board of directors shall fail to so fix a date,  the record date for a meeting shall be the date on which the first notice of meeting is given. Accounts withdrawn or retired after such record date shall not be voted or counted in determining the number of accounts outstanding. This section shall be applicable to the dividend payments on guaranty capital,  but dividends on accounts shall be governed by section 6-442.
AZ Rev Stat § 6-417 (2021)
2021 Arizona Revised Statutes|Title 6 - Banks and Financial Institutions|§ 6-417 - Directors

6-417.  Directors The business affairs of the association shall be exercised by its board of directors,  which shall be elected,  and shall exercise its powers,  as follows: 1. The board of directors shall consist of the number of directors fixed by the articles of incorporation but shall be not less than five nor more than twenty-five. All directors shall be bona fide members of the association,  and at all times at least two-thirds of the directors shall be residents of this state. 2. Directors shall be elected as provided in the bylaws of the association and shall serve until their successors are elected and qualified. In all elections of directors cumulative voting shall be allowed as provided in the Constitution of Arizona. 3. In the event of a vacancy on the board of directors from any cause,  the remaining directors shall have full power and authority to continue the management of the association,  and to fill any such vacancy. 4. The board of directors shall hold regular meetings as provided in the bylaws. Special meetings may be held as provided in the bylaws,  and also on call by the deputy director after not less than twelve hours' notice by personal or mail service to each director. 5. A majority of the board of directors shall constitute a quorum for the transaction of business unless a greater number is required in the bylaws. The act of the majority of the directors present at a meeting at which a quorum is present shall be the act of the board of directors,  unless the act of a greater number is required by law,  the articles of incorporation,  or the bylaws. 6. The board of directors shall have all powers that are necessary and proper to enable the association to accomplish its purpose. 7. The board of directors may adopt or amend bylaws,  but bylaws shall not be effective until they have been submitted to and approved by the deputy director as being in conformity with this chapter. Each adopted amendment shall be subject to the same inquiry by the deputy director as the corresponding provision in the original bylaws of the association. The deputy director may require approval by a majority vote of the members for an amendment changing the location of the business office of the association.
AZ Rev Stat § 6-418 (2021)
2021 Arizona Revised Statutes|Title 6 - Banks and Financial Institutions|§ 6-418 - Waiver of notice

6-418.  Waiver of notice Whenever notice is required to be given under this chapter,  a waiver thereof in writing signed by the person or persons entitled to said notice shall be deemed equivalent thereto.
AZ Rev Stat § 6-419 (2021)
2021 Arizona Revised Statutes|Title 6 - Banks and Financial Institutions|§ 6-419 - Officers

6-419.  Officers A. The officers of an association shall consist of a president,  one or more vice presidents,  secretary,  treasurer,  and such other officers as the by-laws shall provide,  to be elected by the directors. If the by-laws so provide,  any two or more offices may be held by the same person,  except that one person shall not hold the offices of president and vice president or president and secretary. The duties and powers of the secretary set forth in this chapter may be exercised by any other officer designated by the board of directors. B. The existence of an association shall not terminate by reason of the failure to elect officers at the time mentioned in the by-laws,  and each officer shall hold his office until his successor is elected and qualified.
AZ Rev Stat § 6-420 (2021)
2021 Arizona Revised Statutes|Title 6 - Banks and Financial Institutions|§ 6-420 - Bonds of officers and employees

6-420.  Bonds of officers and employees A. Every person appointed or elected to any position requiring the receipt,  payment,  management or use of money belonging to an association,  or whose duties allow the person to have access to or custody of any of the association's money or securities or whose duties allow the person regularly to make entries in the books or other records of the association,  before assuming the person's duties,  shall become bonded in some fidelity insurance company licensed to do business in this state and approved by the deputy director. Each such bond shall be on a form or forms as the deputy director shall require and in such amount as the board of directors shall fix and approve. B. Nothing contained herein shall preclude the deputy director from proceeding against an association as provided in this chapter should the deputy director believe that the association is being conducted in an unsafe manner in that the form or amount of bonds so fixed and approved by the board of directors is inadequate to give reasonable protection to the association.
AZ Rev Stat § 6-421 (2021)
2021 Arizona Revised Statutes|Title 6 - Banks and Financial Institutions|§ 6-421 - Access to books and records; communication with members

6-421.  Access to books and records;  communication with members A. Every member or holder of capital shall have the right to inspect such books and records of the association as pertain to the member's or holder's account. Otherwise,  the right of inspection and examination of the books and records shall be limited to the deputy director,  as provided in this chapter,  and to any federal instrumentality or agency authorized to inspect or examine the books and records of an insured association,  and no other person shall have access to the books and records or shall be entitled to a list of the members,  except on express authority of the board of directors. B. If any member desires to communicate with the other members of the association with reference to any question pending or to be presented at a meeting of the members,  the association shall give the member,  on request,  a statement of the approximate number of members entitled to vote at the meeting and an estimate of the cost of preparing and mailing the communication. The requesting member then shall submit the communication to the deputy director who,  if the deputy director finds it to be appropriate and truthful,  shall direct that it be prepared and mailed to the members,  on the requesting member's payment or adequate provision for payment of the expenses of the preparation and mailing.
AZ Rev Stat § 6-422 (2021)
2021 Arizona Revised Statutes|Title 6 - Banks and Financial Institutions|§ 6-422 - Types of capital; personal property

6-422.  Types of capital;  personal property A. The capital of an association may be represented by capital notes and debentures,  accounts or guaranty capital,  as provided in this article and as authorized by the articles of incorporation. B. All accounts,  capital notes and debentures and guaranty capital shall be personal property in the hands of their holders,  transferable as provided in this chapter and the bylaws of the association.
AZ Rev Stat § 6-423 (2021)
2021 Arizona Revised Statutes|Title 6 - Banks and Financial Institutions|§ 6-423 - Accounts

6-423.  Accounts A. An association may maintain all types of deposit accounts and prescribe those terms and conditions relating to the accounts as are allowable for the association to maintain the insurance of its deposits by an insurance corporation. B. Accounts are: 1. Withdrawable and subject to enforced retirement as provided in this article. This chapter does not prevent the withdrawal of funds from an association by negotiable or nonnegotiable order. 2. Entitled to dividends as provided in this article. 3. Nonassessable for either debts or losses of the association. 4. Issued on such plan or plans of payment and in such series or classes as the bylaws may provide,  which plan or plans of payment may include: (a) Regular installment plan with agreed weekly or monthly payments,  with dividends credited to or in behalf of the account until the ultimate value agreed on in the subscription is reached. (b) Full paid plan with one single payment of $100 per unit and dividends payable in cash unless by agreement credited to the account. (c) Prepaid plan with one single payment in such amount per unit as is set forth in the bylaws and dividends credited to such account until the ultimate value of $100 per unit is reached. (d) Optional plan with payments in such amount or amounts and at such times as the holder may elect and dividends credited to such account unless by agreement payable in cash. (e) Any other plan of payment which the deputy director may approve as conforming to sound savings and loan practice.
AZ Rev Stat § 6-424 (2021)
2021 Arizona Revised Statutes|Title 6 - Banks and Financial Institutions|§ 6-424 - Shares of guaranty capital; nature; consideration

6-424.  Shares of guaranty capital;  nature;  consideration A. Shares of guaranty capital shall constitute a secondary reserve out of which losses shall be paid after all other available reserves have been exhausted,  and such shares shall be: 1. Nonwithdrawable,  except as provided in section 6-428,  until all liabilities of the association have been satisfied in full,  including payment of the withdrawal value of all accounts. 2. Entitled to dividends only as provided in section 6-442. B. The consideration for the issuance of shares of guaranty capital may be paid to the association,  or a wholly owned subsidiary of the association,  in whole or in part,  in cash,  in other property,  tangible or intangible,  including promissory notes,  or in labor or services actually performed for the association. Shares are deemed to be fully paid and nonassessable if payment of the consideration for which the shares are to be issued has been received by the association or a wholly owned subsidiary of the association. In the absence of bad faith in the valuation of the consideration,  the judgment of the board of directors or the shareholders,  as the case may be,  as to the value of the consideration received for shares is conclusive.
AZ Rev Stat § 6-425 (2021)
2021 Arizona Revised Statutes|Title 6 - Banks and Financial Institutions|§ 6-425 - Shares of guaranty capital; authorization of issuance; minimum amount

6-425.  Shares of guaranty capital;  authorization of issuance;  minimum amount A. An association may provide for the issuance of shares of guaranty capital,  either by its original articles of incorporation or by an amendment to the articles of incorporation. B. The aggregate initial guaranty capital of an association being organized under this chapter shall be not less than the minimum initial guaranty capital required under section 6-407. C. In the case of an association that shall at any time be operating and its original articles of incorporation authorize the issuance of guaranty shares but the association has issued no guaranty shares,  or in the case of an association already in operation that amends its articles to authorize the issuance of guaranty shares,  the aggregate initial guaranty capital shall be not less than either: 1. The initial guaranty capital required under section 6-407. 2. An amount that,  together with the amount of surplus and all reserves required or designated as available for losses,  equals in the aggregate not less than the required capital and reserves necessary to obtain and maintain insurance of accounts by the insurance corporation,  whichever is greater. D. In the case of an association already in operation and having issued and outstanding guaranty shares,  the aggregate guaranty capital shall be an amount not less than an amount that,  together with the amount of surplus,  amount of outstanding capital notes and debentures,  and all reserves required or designated for use for losses,  equals in the aggregate not less than the required capital and reserves necessary to obtain and maintain insurance of accounts by the insurance corporation. E. Any plan for the issuance of shares of guaranty capital shall be subject to the approval of the deputy director as being in conformity with this chapter,  and the rules and regulations of the deputy director pertaining thereto.
AZ Rev Stat § 6-427 (2021)
2021 Arizona Revised Statutes|Title 6 - Banks and Financial Institutions|§ 6-427 - Shares of guaranty capital; advertisement; sales; collection of subscription

6-427.  Shares of guaranty capital;  advertisement;  sales;  collection of subscription A. All prospectae and advertising matter regarding the subscription for shares of guaranty capital shall include a statement to the effect that such shares of guaranty capital are not insured. B. No association shall pay to any person any commission or other compensation for obtaining any subscription to or sale of shares of guaranty capital without the prior approval of the deputy director. C. The board of directors shall establish a separate account to receive all funds paid in for shares of guaranty capital,  and shall maintain such account until further action is authorized as follows: 1. When the aggregate amount of such funds equals or exceeds the amount of the minimum initial guaranty capital that the association must obtain,  and either the board of directors has decided by resolution to proceed under the guaranty capital plan,  or one year has elapsed after the date on which the issuance of shares of guaranty capital was authorized and the board has taken no action,  then the separate account may be terminated and the funds may be transferred to the association's general account. 2. If the aggregate amount of such funds fails to reach the amount of the minimum initial guaranty capital that the association must obtain and one year has elapsed after the date on which the issuance of shares of guaranty capital was authorized or if the board of directors,  within such one-year period,  has decided by resolution to abandon the guaranty capital plan,  the funds in the separate account shall be returned to the respective subscribers and shall not become a liability of the association or its officers or directors.
AZ Rev Stat § 6-428 (2021)
2021 Arizona Revised Statutes|Title 6 - Banks and Financial Institutions|§ 6-428 - Retirement or reduction of shares of guaranty capital

6-428.  Retirement or reduction of shares of guaranty capital A. The board of directors of an association operating with guaranty capital may propose an amendment to the articles of incorporation providing for the retirement of all of the guaranty capital,  and a detailed plan for effectuating such an amendment. The resulting capital of the association shall be not less than the minimum initial capital that the association,  if it were being organized,  would be required to have under this chapter concerning applicants and initial capital. The proposal shall be submitted to the deputy director for the deputy director's approval. B. If the deputy director approves the proposal,  the association's board of directors may request in writing an appraisal of the value of the shares of guaranty capital. The deputy director then shall cause such an appraisal to be made and receive therefor the fees for a special examination as provided by section 6-125,  allowing proper credit to such shares from the association's segregated surplus,  if any exists,  and from other reserves and undivided profits. The value of the shares of guaranty capital so determined may be considered in the further proceedings under this section. C. The proposal then may be submitted to the members at an annual or special meeting. The proposal shall be adopted on receiving in the affirmative the votes of the holders of two-thirds or more of the outstanding shares of guaranty capital,  and also two-thirds or more of the total number of votes that all other members of the association are entitled to cast thereon. The proposal shall become effective on completion of the procedure provided in this chapter for the amendment of articles of incorporation. D. An association may amend its articles of incorporation,  in accordance with the procedure provided in this chapter for such amendments,  to reduce its shares of guaranty capital,  but in no event to an amount that is less than the minimum guaranty capital that the association would be required by this chapter to issue if it were newly authorized to issue guaranty capital.
AZ Rev Stat § 6-429 (2021)
2021 Arizona Revised Statutes|Title 6 - Banks and Financial Institutions|§ 6-429 - Issuance, delivery, and transfer of certificates and account books

6-429.  Issuance,  delivery,  and transfer of certificates and account books A. An association may evidence an account by one or more appropriate certificates. B. The holder of an account may transfer his rights in the account absolutely or conditionally to any other person eligible to hold the same by written assignment. Notwithstanding the effectiveness of such a transfer between the parties to the transfer,  the association may treat the holder of record as the owner of the account for payment,  voting and all other purposes until the assignment and any accompanying certificate or account books have been received by the association with a request for the transfer on the association's records. C. Account certificates,  account books and any other evidences of membership are negotiable or nonnegotiable and not subject to,  but shares of guaranty capital certificates are subject to,  the provisions of title 47,  chapter 8. D. All certificates and account books delivered to the holders as prescribed by this article are subject to garnishment,  attachment and execution as provided by the laws of this state. E. If the holder of an account,  or the personal representative of any such person,  files with the association an affidavit to the effect that his account book or certificate has been lost or destroyed,  and that the account book or certificate has not been pledged or assigned either in whole or in part,  then the association may issue a substitute account book or certificate in the name of the holder,  with a statement that the account book or certificate is issued in lieu of the one lost or destroyed. The association is not liable thereafter with respect to the original account book or certificate,  but the board of directors may require a bond in sufficient amount to indemnify the association against any loss which might result from the issuance of the substitute account book or certificate.
AZ Rev Stat § 6-430 (2021)
2021 Arizona Revised Statutes|Title 6 - Banks and Financial Institutions|§ 6-430 - Who may hold capital and membership

6-430.  Who may hold capital and membership Accounts,  shares of guaranty capital,  and membership in an association may be held: 1. By any person in his own right,  regardless of his age or marital status,  or by two or more of such persons. 2. By a government or governmental instrumentality when authorized by law.
AZ Rev Stat § 6-432 (2021)
2021 Arizona Revised Statutes|Title 6 - Banks and Financial Institutions|§ 6-432 - Effect of payment to minor or fiduciary

6-432.  Effect of payment to minor or fiduciary A. Unless the written agreement provides otherwise,  or unless the association has had written notice of the terms under which a fiduciary holds an account,  the association may pay the value thereof and dividends thereon: 1. To any minor who is the holder of such account. 2. To such fiduciary who is the holder of such account without becoming liable to any beneficiary for such payment. B. In each of the foregoing instances the receipt or acquittance of the person or persons to whom payment is made in accordance with the provisions of this section shall be a complete discharge of the association's obligation as to the amount so paid.