reglab/housing_qa huggingface dataset:
AZ Rev Stat § 6-433 (2021)
2021 Arizona Revised Statutes|Title 6 - Banks and Financial Institutions|§ 6-433 - Payment on disability or death of holder in his own right of account

6-433.  Payment on disability or death of holder in his own right of account A. If the holder in his own right of an account becomes a person with a disability and a conservator has been appointed,  by a court of competent jurisdiction,  and has qualified then the association may pay the value of such account and dividends thereon to the conservator. Until the association has actual knowledge that a conservator has been appointed,  it may pay to the protected person personally and his receipt or acquittance therefor shall be a complete discharge of the association as to the amount so paid. B. Upon the death of a holder in his own right of an account,  the association,  upon receipt of proper estate tax waivers,  may pay the value thereof and dividends thereon: 1. To the personal representative of such deceased holder,  if and when qualified,  in the manner provided in this chapter for the voluntary withdrawal of account generally. 2. To the successor of such deceased holder upon presentation of an affidavit pursuant to section 14-3971.
AZ Rev Stat § 6-434 (2021)
2021 Arizona Revised Statutes|Title 6 - Banks and Financial Institutions|§ 6-434 - Shares and accounts of certain associations as legal investments; deposit of fiduciary monies

6-434.  Shares and accounts of certain associations as legal investments;  deposit of fiduciary monies A. All accounts of a federal savings and loan association and all accounts of a savings and loan association operating under this chapter,  whose accounts are insured by the federal deposit insurance corporation,  as provided in title IV of the national housing act,  as now or hereafter amended,  are legal investments for the funds of executors,  administrators,  guardians,  receivers and trustees of every kind and nature and insurance companies,  and such associations are qualified to act as trustee or custodian within the provisions of the federal self-employed individual's tax retirement act of 1962,  as amended. B. Monies held by a savings and loan association as fiduciary may be deposited to the credit of the savings and loan association on time or demand account with itself or with any bank or other savings and loan association the deposits of which are insured by instrumentalities of,  or corporations chartered by,  the United States for the purpose of insuring the accounts of banks or savings and loan associations. Unless otherwise provided by the writing creating the trust,  if the monies are deposited with itself the savings and loan association shall secure the deposits with securities described in section 6-446,  subsection A,  paragraphs 1 and 2 or other security approved by the deputy director for such a purpose,  in the amount of the deposit,  less the amount by which the deposits are insured by the federal deposit insurance corporation or such other instrumentality of,  or corporation chartered by,  the United States as may be established for the purpose of insuring the accounts of savings and loan associations.
AZ Rev Stat § 6-436 (2021)
2021 Arizona Revised Statutes|Title 6 - Banks and Financial Institutions|§ 6-436 - Maturity of shares

6-436.  Maturity of shares A. When a regular installment or prepaid share reaches maturity value by reason of payments or dividend credits,  or both,  all payments thereon by the holder shall cease. The association either shall pay to the holder the maturity value of such share,  in accordance with the provisions of this article,  or shall mail a notice to the holder at his last known address as it appears on the association's records,  to the effect that he is entitled to receive payment for such share or to transfer the same or such portion thereof,  as the directors may specify,  into other accounts,  and that if he takes neither action within sixty days after the date on which such notice is mailed,  the value of such share may be held in a creditor account without interest or dividends,  available for the holder upon his application,  or the board of directors may transfer such share to another account of equivalent value on which dividends shall accrue as on a new account opened on the transfer date. B. If the association has insufficient funds to make immediate payment upon the date of maturity of any shares,  such shares shall be listed in the order of their respective dates of maturity,  and shall be paid in the manner provided in section 6-435. Shares in the same series maturing on the same date shall be listed,  as of such date,  in the order in which they were issued in that series. From the date of maturity until payment,  dividends shall be apportioned to such matured shares at a rate to be determined by resolution of the board of directors. Dividends so apportioned shall be accumulated to the credit of such shares and shall be paid to the holder at the time when the shares are paid,  but the rate of such dividends shall not exceed the highest rate being currently apportioned to any other shares.
AZ Rev Stat § 6-437 (2021)
2021 Arizona Revised Statutes|Title 6 - Banks and Financial Institutions|§ 6-437 - Enforced retirement of accounts

6-437.  Enforced retirement of accounts A. The board of directors,  when authorized by the by-laws,  and in conformity with the provisions of this section and of the by-laws,  may retire on any dividend payment date any accounts,  which have not been pledged as security for loans,  by enforcing the retirement thereof. B. Thirty days' prior written notice of such enforced retirement shall be given to the holder of an account to be retired and the holder shall not be entitled to further dividends after the dividend payment date on which such account is to be retired,  but such holder shall be paid the full withdrawal value of his account plus the dividend apportioned thereto as of the date fixed for retirement. All accounts upon which applications for voluntary withdrawal have been received,  and all shares which have matured,  shall be paid first in accordance with the provisions of this article.
AZ Rev Stat § 6-438 (2021)
2021 Arizona Revised Statutes|Title 6 - Banks and Financial Institutions|§ 6-438 - Authorized charges applicable to members

6-438.  Authorized charges applicable to members An association may charge initial membership fee and a fee for transfer of membership or capital,  as may be authorized by the by-laws,  but no such fee shall exceed twenty-five cents per share or per one hundred dollars of the account.
AZ Rev Stat § 6-439 (2021)
2021 Arizona Revised Statutes|Title 6 - Banks and Financial Institutions|§ 6-439 - Accounts subject to liens

6-439.  Accounts subject to liens Every account shall be subject to a lien for the payment of such charges as lawfully may accrue thereon under the provisions of this chapter,  and the by-laws may prescribe the manner of enforcing such lien,  but no member shall be responsible for any losses which the then existing assets of the association shall not be sufficient to satisfy,  or for any unpaid installment upon his account which is not yet due under the terms of his subscription.
AZ Rev Stat § 6-440 (2021)
2021 Arizona Revised Statutes|Title 6 - Banks and Financial Institutions|§ 6-440 - Apportionment of profits

6-440.  Apportionment of profits The board of directors may apportion the profits of the association as the bylaws may prescribe,  and each apportionment shall be made in accordance with the following procedure: 1. Proper allocation first shall be made to accrued interest on accounts. 2. Proper allocation then shall be made to any reserves required by law or the deputy director. 3. Additional allocations then may be made to such special reserves as the board of directors may have established. 4. Dividends then may be declared if the bylaws so provide on shares of guaranty capital,  in accordance with this chapter. 5. The residue of such profits may be held as undivided profits.
AZ Rev Stat § 6-442 (2021)
2021 Arizona Revised Statutes|Title 6 - Banks and Financial Institutions|§ 6-442 - Dividends and interest

6-442.  Dividends and interest A. Subject to the restrictions set forth in this section and the association's bylaws,  an association from time to time may determine the term,  rate and amount of interest to be paid on accounts,  and for that purpose may establish reasonable classifications of accounts,  based on any of the following: 1. The types or classes of such accounts. 2. The length of time accounts are continued in effect. 3. The size of initial payments on accounts. 4. The minimum balances of accounts during apportionment periods. 5. The frequency and extent of the activity of accounts. 6. Such other classifications as the deputy director may approve,  and the deputy director is authorized to prepare model plans of classifications for adoption by associations. B. An association shall determine the method of calculating the amount of interest on accounts,  and the date on which the interest is to be declared or credited,  but a payment or credit shall not be made more than ten days before the end of any apportionment period,  except on a matured bonus plan account or as approved by rules of the deputy director. C. Dividends may be declared and paid on shares of guaranty capital as allowed from time to time by the laws governing corporations organized in this state,  except that dividends payable other than in the association's own stock may be paid out as a distribution,  as defined in section 10-140,  only with the approval of the deputy director or as approved by rules of the deputy director.
AZ Rev Stat § 6-443 (2021)
2021 Arizona Revised Statutes|Title 6 - Banks and Financial Institutions|§ 6-443 - Bonus plans

6-443.  Bonus plans For the purpose of encouraging thrift,  systematic savings and long-term investment,  the board of directors may establish by resolution bonus plans for holders of accounts. The board then shall transfer from the periodical profits of the association additional amounts to a bonus reserve,  from which reserve payments to holders complying with such plans shall be paid. Every bonus so paid shall be deemed a premium and shall not be construed as a dividend. The bonus plan adopted by the board of directors shall be either one prescribed by the regulations of the federal deposit insurance corporation or its successor instrumentality or shall be in accordance with the following provisions: 1. The holder shall agree to make regular payments at least monthly,  of any predetermined amount,  until the payments,  together with dividends apportioned thereto,  equal two hundred times the agreed monthly payment and without a delay of more than thirty days in any payment,  without a prepayment of more than twelve months and without making application for withdrawal of all or any part of the account. At the end of the bonus period,  the holder shall receive,  in addition to the regular monthly payments and dividends apportioned thereto,  a bonus at the rate of one per cent per annum computed on the withdrawal value of the account at each apportionment of profits. If the holder applies for withdrawal of his account in part or in full or fails to meet any and all the other terms of his bonus agreement after such account,  including dividends apportioned thereto,  has reached: (a) At least fifty but less than one hundred times the agreed monthly payment upon his account in accordance with the terms thereof,  such holder shall be entitled to receive one-fourth of the bonus allocable to such account. (b) At least one hundred but less than one hundred fifty times the agreed monthly payment upon his account in accordance with the terms thereof,  such holder shall be entitled to receive one-half of such bonus allocable to such account. (c) At least one hundred fifty but less than two hundred times the agreed monthly payment upon his account in accordance with the terms thereof,  such holder shall be entitled to receive three-fourths of such bonus allocable to such account. 2. The holder shall subscribe to a long-term investment plan providing that if he maintains in his account an agreed minimum balance either: (a) For a period of four years,  he shall be paid a bonus of one-half of one per cent per annum. (b) For a period of eight years,  he shall be paid a bonus of one per cent per annum. The plan may state the minimum and maximum balances on which a bonus may be paid. 3. If the association effects an enforced retirement of an account which is under a bonus plan before the bonus becomes payable according to the plan,  the portion of the bonus reserve allocable to the account shall be paid to the holder.
AZ Rev Stat § 6-444 (2021)
2021 Arizona Revised Statutes|Title 6 - Banks and Financial Institutions|§ 6-444 - Promotional activities prohibited; definitions

6-444.  Promotional activities prohibited;  definitions A. After the effective date hereof,  an association shall not give for the opening of,  or increasing the amount of,  any account,  any giveaway that has a monetary value in excess of the sum fixed for specified classes of accounts by rule of the deputy director. The monetary value of any giveaway so given shall be the cost of the giveaway to the association and the association shall keep in its records for a period of at least two years suitable evidence of such cost. If the giveaway is purchased or obtained by the association together with,  in connection with,  or at the same time as another item or other items from the same supplier,  not identical therewith,  such value shall be deemed to be the then current regular selling price or charge of the supplier on separate sales or dispositions thereof in the quantity included,  and the association shall in such case obtain,  and keep in its records for a period of at least two years,  a signed statement by such supplier of such regular selling price or charge.  B. For the purposes of this section: 1. " Account"  means shares of an association of whatsoever class or designation,  accounts,  share account,  investment certificate,  share subscription,  and credit to the account of the maker thereof other than credit on account of a loan by the association.  2. " Give"  means to give,  to sell or dispose of for less than full monetary value as hereinbefore defined,  or with any agreement or undertaking,  contingent or otherwise,  for repurchase or redemption,  whether total or partial,  or to offer,  promise,  or agree to do any of the foregoing.  3. " Giveaway"  means any money,  property,  service,  or other thing of value,  whether tangible or intangible.
AZ Rev Stat § 6-450 (2021)
2021 Arizona Revised Statutes|Title 6 - Banks and Financial Institutions|§ 6-450 - Modification agreements

6-450.  Modification agreements The association at any time may enter into a written agreement with the borrower to modify,  in any manner not inconsistent with the provisions of this chapter,  the terms of a loan as to the amount,  time,  or method of the payments to be made,  the interest rate,  and any other provisions of the loan contract,  and the loan contract and the security instrument shall not be prejudiced by the making of any such modification,  even if such a modification was not provided for in the loan contract.
AZ Rev Stat § 6-451 (2021)
2021 Arizona Revised Statutes|Title 6 - Banks and Financial Institutions|§ 6-451 - Servicing of loans

6-451.  Servicing of loans An association may contract to service a loan in any manner unless restricted by regulations prescribed by the deputy director and shall require sufficient compensation to reimburse the association for all expenses incurred under such contract.
AZ Rev Stat § 6-452 (2021)
2021 Arizona Revised Statutes|Title 6 - Banks and Financial Institutions|§ 6-452 - Purchase of real or personal property at forced sale

6-452.  Purchase of real or personal property at forced sale An association may purchase,  at any sheriff's or other judicial sale,  either public or private,  any real or personal property upon which the association has any mortgage,  lien,  or other encumbrance or in which the association has any other interest or accept a deed in lieu of such foreclosure. The association thereafter may repair,  improve,  sell,  convey,  lease,  mortgage,  exchange,  or otherwise dispose of real or personal property so acquired,  in the best interests of the association,  without limitation.
AZ Rev Stat § 6-453 (2021)
2021 Arizona Revised Statutes|Title 6 - Banks and Financial Institutions|§ 6-453 - Purchase of real estate for office and rental purposes

6-453.  Purchase of real estate for office and rental purposes An association may invest in land on which to erect an office building,  an office building or buildings and appurtenances,  for the transaction of such association's business,  or for the transaction of such business and for rental,  but no such investment may be made if the total amount of all investments of the association in such building or buildings exceeds the aggregate amount of the association's outstanding shares of guaranty capital,  reserves available for losses and surplus,  unless the deputy director,  on a proper showing,  shall approve a larger amount consistent with the needs of the association's business and its immediate expansion. An association shall not purchase an office building,  or any part of an office building,  or land on which to erect an office building,  from an affiliated institution,  from an officer,  director or employee of such association,  or from a corporation or association in which any officer,  director or employee is a stockholder or is an officer,  director or employee,  or from a partnership in which any officer,  director or employee is a partner,  without the prior written approval of the deputy director.
AZ Rev Stat § 6-454 (2021)
2021 Arizona Revised Statutes|Title 6 - Banks and Financial Institutions|§ 6-454 - Appraisal of real estate owned

6-454.  Appraisal of real estate owned At the time of acquisition by purchase,  foreclosure or otherwise,  an association shall cause to be appraised,  in the manner,  and by appraisers appointed in accordance with section 6-457,  each parcel of real estate acquired and shall keep a signed copy of such appraisal in its records. An association shall not carry real estate on its books for a sum in excess of the total amount actually invested by the association on account of such real estate,  including reasonable advances,  costs and improvements,  but excluding accrued and uncollected interest.
AZ Rev Stat § 6-456 (2021)
2021 Arizona Revised Statutes|Title 6 - Banks and Financial Institutions|§ 6-456 - Effect of unauthorized investments and loans; liability of officers

6-456.  Effect of unauthorized investments and loans;  liability of officers A. Every loan or other investment made in violation of this chapter shall be due and payable according to its terms,  and the obligation thereof shall not be impaired. B. Every director or officer of an association who knowingly shall violate,  participate in,  or assent to,  or who knowingly shall permit any of the officers or agents of the association to make investments not authorized by this chapter,  shall be liable individually for all damage which the association or its members sustain in consequence of such violation.
AZ Rev Stat § 6-457 (2021)
2021 Arizona Revised Statutes|Title 6 - Banks and Financial Institutions|§ 6-457 - Appraisals

6-457.  Appraisals Every appraisal or reappraisal of property that an association is required to make shall be made as follows: 1. In accordance with the deputy director's rules and regulations on appraisals. Each appraisal shall be filed and preserved by the association during the life of the loan. 2. In the case of an insured or guaranteed loan,  by any appraiser appointed by any lending,  insuring or guaranteeing agency of the United States or of this state that shall insure or guarantee such loan,  wholly or in part. A copy of any appraisal or of the commitment or certificate of the insuring or guaranteeing agency shall be filed and preserved by the association during the life of the loan. 3. The deputy director,  when good cause exists,  may cause an independent appraisal to be made of any property on which a loan has been made. The reasonable travel and subsistence expenses and compensation to such appraisers not in excess of comparable fees paid for the same or similar appraisals in the same area shall be paid by the association owning or holding such property as mortgagee.
AZ Rev Stat § 6-458 (2021)
2021 Arizona Revised Statutes|Title 6 - Banks and Financial Institutions|§ 6-458 - Acknowledgments

6-458.  Acknowledgments No acknowledgment of a deed,  mortgage,  or other instrument shall be invalid because such acknowledgment was taken before an officer authorized by the laws of this state to acknowledge conveyances,  who is also a member,  director,  employee,  or officer of an association which is a party to such deed,  mortgage,  or other instrument.
AZ Rev Stat § 6-459 (2021)
2021 Arizona Revised Statutes|Title 6 - Banks and Financial Institutions|§ 6-459 - Amendment of articles of incorporation

6-459.  Amendment of articles of incorporation An association may amend its articles of incorporation from time to time,  in accordance with the procedure prescribed in this article;  but the articles of incorporation,  as amended,  shall conform to all legal requirements which pertain to original articles adopted at the time of such amendment. Any number of amendments may be submitted to the members,  and voted upon by them,  at one meeting.
AZ Rev Stat § 6-460 (2021)
2021 Arizona Revised Statutes|Title 6 - Banks and Financial Institutions|§ 6-460 - Procedure to amend articles of incorporation

6-460.  Procedure to amend articles of incorporation The procedure to effect an amendment of articles of incorporation shall be as follows: 1. The board of directors shall adopt a resolution setting forth the proposed amendment and directing that it be submitted to a vote at a meeting of the members,  which may be an annual or a special meeting. 2. The proposed amendment,  or a summary of the changes to be effected thereby,  shall be set forth in the notice of meeting as prescribed in section 6-415. 3. The proposed amendment will be adopted on receiving,  in the affirmative,  a majority or more of the total number of votes that all members of the association are entitled to cast,  except that an amendment effecting a retirement of all shares of guaranty capital must receive the vote specified in section 6-428. A report of proceedings,  verified by the president or a vice president and attested by the secretary and setting forth the notice given,  the amendment adopted,  the vote thereon,  and the total number of votes that all members of the association were entitled to cast thereon,  shall be filed promptly with the deputy director. 4. Each adopted amendment shall be subject to the same inquiry by the deputy director as the corresponding provision in the original articles of incorporation,  including the availability of a proposed new name of the association. If the deputy director approves an amendment,  the deputy director shall issue to the association a certificate setting forth the amendment and the deputy director's approval thereof,  which shall then be filed with the corporation commission and a certified copy thereof recorded in the office of the county recorder of the county where the principal office of the association is located. When so filed and recorded the amendment shall become effective. 5. No amendment of articles of incorporation shall affect any existing cause of action either in favor of or against the association,  or any pending action in which the association shall be a party,  or the existing rights of persons other than members of the association. If the amendment has changed the name of the association,  no action brought by or against the association under its former name shall be abated for that reason.