Section R20-4-1102. Capital structure of savings and loan associations; defined

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“Capital structure” as the term is applied to savings and loan associations under Article 2, Chapter 2, Title 35, Arizona Revised Statutes, means the sum of the following net worth accounts of the institution as stated in the institution’s report of condition required by the supervisory banking authority for the year end next preceding the institution’s bid for deposit:

1.        Capital notes and debentures.

2.        Guaranty capital stock.

3.        General reserves. (Including bad debt reserves)

4.        Other reserves.

5.        Paid in surplus.

6.        Earned surplus and undivided profits.

Historical Note

Adopted as an emergency effective July 29, 1975 (Supp. 75-1). Amended effective December 26, 1975 (Supp. 75- 2). R20-4-1102 recodified from R4-4-1102 (Supp. 95-1).

                    
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