The proposed bill would amend section 6-403 of the Arizona Revised Statutes concerning savings and loan associations. It would maintain the current prohibition against individuals or groups transacting business within the scope of the chapter but would streamline the language by removing specific references to doing business under any name, circulating advertising, and making representations that imply business operation within the chapter's scope.

The bill introduces new language that clarifies the existing prohibition by replacing the deleted phrases with a more concise statement. This change aims to simplify the statute while preserving its intent, ensuring that no person or group can imply they are operating a business covered by this chapter without proper authorization.

Statutes affected:
Introduced Version: 6-403