The Arizona Revised Statutes have been updated to include the revised sections from the 56th Legislature, 1st Regular Session. Please note that the next update of this compilation will not take place until after the conclusion of the 56th Legislature, 2nd Regular Session, which convenes in January 2024.
DISCLAIMER
This online version of the Arizona Revised Statutes is primarily maintained for legislative drafting purposes and reflects the version of law that is effective on January 1st of the year following the most recent legislative session. The official version of the Arizona Revised Statutes is published by Thomson Reuters.
A. Except as otherwise provided in subsection B or C of this section, this chapter applies to a receivership for an interest in commercial real property and any personal property related to or used in operating the real property.
B. This chapter does not apply to a receivership for an interest in real property improved by one to four dwelling units unless:
1. The interest is used for agricultural, commercial, industrial, or mineral-extraction purposes, other than incidental uses by an owner occupying the property as the owner's primary residence.
2. The interest secures an obligation incurred at a time when the property was used or planned for use for agricultural, commercial, industrial or mineral-extraction purposes.
3. The owner planned or is planning to develop the property into one or more dwelling units to be sold or leased in the ordinary course of the owner's business.
4. The owner is collecting or has the right to collect rents or other income from the property from a person other than an affiliate of the owner.
C. This chapter does not apply to a receivership authorized by another law other than this chapter in which the receiver is a governmental unit or an individual acting in an official capacity on behalf of the unit except to the extent provided by law.
D. This chapter does not limit the authority of a court to appoint a receiver under another law other than this chapter.
E. Unless displaced by a particular provision of this chapter, the principles of law and equity supplement this chapter.