The proposed bill seeks to amend section 6-403 of the Arizona Revised Statutes concerning savings and loan associations. It introduces new language that clarifies the restrictions on business transactions under this chapter. Specifically, it maintains the prohibition against individuals or groups transacting business within the scope of the chapter but simplifies the language regarding advertising and representations.

Under the current law, there are multiple prohibitions related to advertising and making representations that imply the operation of a business within the chapter's scope. The bill would remove some of this redundant language, streamlining the statute by replacing it with a more concise phrasing that still conveys the same restrictions. This change aims to enhance clarity and reduce potential confusion regarding compliance with the law.

Statutes affected:
Introduced Version: 6-403