Instructions for Trust Company Application - Arizona

This document was released by Arizona Department of Financial Institutions and contains the most recent official instructions for Trust Company Application .

FAQ

Q: What is the Trust Company Application?
A: The Trust Company Application is a process to establish a trust company in Arizona.

Q: Who can apply for a Trust Company Application?
A: Any individual, corporation, or partnership can apply for a Trust Company Application in Arizona.

Q: What is required to complete the Trust Company Application?
A: To complete the application, you will need to provide detailed information about the company's ownership, financials, business plan, and personnel.

Q: How much does it cost to submit a Trust Company Application?
A: The application fee is $5,000, and an additional fee may be required for background checks.

Q: How long does the Trust Company Application process take?
A: The application review process can take several months, depending on the complexity of the application and any additional information requested by the Arizona Department of Financial Institutions.

Q: Are there any specific requirements to operate a trust company in Arizona?
A: Yes, trust companies in Arizona must meet certain capital, reporting, and compliance requirements set forth by the Arizona Department of Financial Institutions.

Q: Can a trust company be located outside of Arizona?
A: No, according to the Arizona Trust Company Act, a trust company must maintain its principal place of business in Arizona.

Q: Is there any ongoing regulation for trust companies in Arizona?
A: Yes, trust companies in Arizona are subject to regular examinations and oversight by the Arizona Department of Financial Institutions to ensure compliance with state regulations.