Arizona Revised Statutes (Last Updated: March 31, 2016) |
Title 6. Banks and Financial Institutions |
Chapter 1. DEPARTMENT OF FINANCIAL INSTITUTIONS |
Article 5. Proceedings for Officer Removal |
Sec 6-164. Attorney fees and expenses
Latest version.
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In any proceeding instituted under this article in which a director or officer is a party, and if the superintendent or court allows such party reasonable expenses and attorney fees, the superintendent or the court may provide that such expenses and fees shall be paid by the financial institution or enterprise from its assets with priority as an expense of administration in receivership.