Arizona Revised Statutes

Ariz. Rev. Stat. § 6-402 (2026)

Scope of chapter; application to federal associations and federal savings banks

✓ current as of May 2026
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A. This chapter applies to all existing savings and loan associations, and other similar associations and savings banks by whatever name called, organized under this or any prior act.

B. Every federal savings and loan association and federal savings bank shall have all the rights, powers and privileges and shall be entitled to the same exemptions and immunities as savings and loan associations organized under the laws of this state unless prohibited by federal law.  In addition to all other rights, powers and privileges, savings and loan associations organized under the laws of the state, whose accounts are insured by an insurance corporation, shall have all the rights, powers and privileges and shall be entitled to the same exemptions and immunities as federal savings and loan associations doing business in this state unless prohibited by this chapter.

 

Notes of Decisions
Cited in 2 cases, 1983–1985 · leading case: Scappaticci v. Sw. Sav. & Loan Ass'n, 662 P.2d 131 (Ariz. 1983).
Scappaticci v. Sw. Sav. & Loan Ass'n, 662 P.2d 131 (Ariz. 1983). · cites it 3× “” It is appellants’ contention that federal savings and loan associations had the right to enforce due-on-sale clauses in 1960 when A.R.S. § 6-402(B) was enacted and thus, state savings and loan associations now have that right by virtue of the statute.”
Snow v. W. Sav. & Loan Ass'n, 730 P.2d 197 (Ariz. Ct. App. 1985). · cites it 2× “The position asserted by Western Savings in its 1982 letter, though not based on the firmest possible legal ground, could nevertheless have been maintained in good faith and thus cannot be viewed as illegal or wrongful. Moreover, Western Savings’ letter functioned primarily as a…”
— Ariz. Rev. Stat. § 6-402(B) — 2 cases
Scappaticci v. Sw. Sav. & Loan Ass'n, 662 P.2d 131 (Ariz. 1983). “” It is appellants’ contention that federal savings and loan associations had the right to enforce due-on-sale clauses in 1960 when A.R.S. § 6-402(B) was enacted and thus, state savings and loan associations now have that right by virtue of the statute.”
Snow v. W. Sav. & Loan Ass'n, 730 P.2d 197 (Ariz. Ct. App. 1985). “The position asserted by Western Savings in its 1982 letter, though not based on the firmest possible legal ground, could nevertheless have been maintained in good faith and thus cannot be viewed as illegal or wrongful. Moreover, Western Savings’ letter functioned primarily as a…”
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