A.R.S. § 6-403: Prohibitions

Except as authorized under this title:

1. No person or group of persons shall transact business within the scope of this chapter or do any business under any name or title, or circulate or use any advertising or make any representation or give any information to any person, which indicates or reasonably implies the operation of a business which is within the scope of this chapter.

2. No foreign savings and loan association or savings bank shall be admitted or allowed to maintain an office in this state to transact the business of a savings and loan association or savings bank.