Ariz. Rev. Stat. § 6-144
A person shall not, directly or indirectly, make a tender offer for, request or invite a tender offer for, offer to exchange securities for or acquire in the open market or otherwise, any voting security or any security convertible into a voting security of a bank, trust company, savings and loan association or controlling person if such a transaction would result in the person acquiring control of a bank, trust company or savings and loan association or controlling person unless the deputy director has approved such acquisition of control, except that this section does not prohibit a person from negotiating or entering into agreements subject to the condition that the acquisition of control will not be effective until approval of the deputy director is obtained.
A.R.S. § 6-144