REFERENCE TITLE: department of financial institutions; continuation

State of Arizona House of Representatives Fifty-first Legislature Second Regular Session 2014

HB 2097

Introduced by Representatives Brophy McGee, Fann, Livingston, Senator Yarbrough: Representatives Coleman, Dial, Hernández, Senator Driggs

 

AN ACT

 

repealing section 41‑3014.10, Arizona Revised Statutes; amending title 41, chapter 27, article 2, Arizona Revised Statutes, by adding section 41‑3024.10; relating to the department of financial institutions.

 

 

(TEXT OF BILL BEGINS ON NEXT PAGE)

 

Be it enacted by the Legislature of the State of Arizona:

Section 1.  Repeal

Section 41-3014.10, Arizona Revised Statutes, is repealed.

Sec. 2.  Title 41, chapter 27, article 2, Arizona Revised Statutes, is amended by adding section 41-3024.10, to read:

START_STATUTE41-3024.10.  Department of financial institutions; termination July 1, 2024

A.  The department of financial institutions terminates on July 1, 2024.

B.  Title 6 is repealed on January 1, 2025.END_STATUTE

Sec. 3.  Purpose

Pursuant to section 41‑2955, subsection B, Arizona Revised Statutes, the legislature continues the department of financial institutions to promote the public welfare by protecting the financial assets of the citizens of this state through the administration of this state's statutes that relate to financial institutions and enterprises.

Sec. 4.  Retroactivity

Sections 1 and 2 of this act are effective retroactively to July 1, 2014.