State Codes and Statutes

State Codes and Statutes

Statutes > Arizona > Title6 > 6-129

6-129. Records; disclosure and limitations on disclosure; evidentiary effect

A. Except as otherwise provided by this title, the records of the department relating to financial institutions shall not be public documents nor shall they be open for inspection by the public and neither the superintendent nor any member of the superintendent's staff shall disclose any information obtained in the discharge of official duties to any person not connected with the department.

B. Records and information may be disclosed as follows:

1. To representatives of federal agencies insuring accounts in the financial institution.

2. To representatives of state or federal agencies and foreign countries having regulatory or supervisory authority over the activities of the financial institution or enterprise or similar financial institutions or enterprises if such representatives are permitted to and do, upon request of the superintendent, disclose similar information respecting those financial institutions or enterprises under their regulation or supervision or to such representatives who state in writing under oath that they shall maintain the confidentiality of such information.

3. To the attorney general of this state.

4. To a select committee of the legislature of this state appointed for the purpose of inspecting such records, but this paragraph shall not permit disclosure of information as to the condition of any particular financial institution or enterprise, or disclosure of information as to any particular transaction or transactions of a financial institution or enterprise, or disclosure of information which has been disclosed to a financial institution or enterprise by or on behalf of any person in connection with a transaction or proposed transaction with such financial institution or enterprise.

5. To a federal, state or county grand jury in response to a lawful subpoena.

6. To the auditor general of this state for the purpose of conducting audits authorized by law.

7. To state and federal law enforcement agencies.

8. To a federal home loan bank, as defined by the federal home loan act of 1932 (12 United States Code section 1422), after the department receives authorization to release the records from the financial institution that is the subject of the records.

C. The superintendent may:

1. Disclose the fact of filing of applications with the department pursuant to this title, give notice of a hearing, if any, regarding such applications, and announce the superintendent's action thereon.

2. Disclose whether a person is or was certified or licensed by the department, the type of license or certificate held and the status of the license or certificate.

3. Disclose final decisions in connection with proceedings for the suspension or revocation of licenses or certificates issued pursuant to this title.

4. Disclose final decisions in connection with the issuance of an order to cease and desist issued pursuant to section 6-137.

5. Disclose to the financial institution or enterprise or its holding company the results of any examination, inquiry or investigation by the department regarding that financial institution or enterprise.

6. Disclose to the financial institution or enterprise any complaint made concerning that financial institution or enterprise.

7. Disclose to any person who complains to the department concerning any financial institution or enterprise the result of any investigation concerning the complaint.

8. Prepare and circulate reports reflecting the assets and liabilities of financial institutions, including such other information considered pertinent to the purpose of each report for general statistical information.

9. Prepare and circulate reports provided by law.

D. Every official report of the department is prima facie evidence of the facts therein stated in any action or proceeding wherein the superintendent is a party.

E. Disclosure of the results of any examination, inquiry or investigation disclosed to the financial institution or enterprise pursuant to subsection C, paragraph 5 of this section or disclosure of any complaint to the financial institution or enterprise pursuant to subsection C, paragraph 6 of this section does not make that information a public record, and the financial institution or enterprise or its holding company may not disclose any of the information to the general public. Under no circumstances shall any of the comments, conclusions or results of an examination, inquiry or investigation disclosed pursuant to subsection C, paragraph 5 of this section be used or referenced in any form by a financial institution, enterprise or holding company in any type of communication to a customer or potential customer.

F. Nothing in this section shall be construed to prevent the disclosure of information which is admissible in evidence in any civil or criminal proceeding brought by or at the request of the superintendent or this state to enforce or prosecute violations of this title or the rules or orders issued or adopted pursuant to this title.