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 subsections C, D and E, a description of personal or real property is sufficient, whether or not it is specific, if it reasonably identifies what is described.
B. Except as otherwise provided in subsection D, a description of collateral reasonably identifies the collateral if it identifies the collateral by:
1. Specific listing;
2. Category;
3. Except as otherwise provided in subsection E, a type of collateral defined in this title;
4. Quantity;
5. Computational or allocational formula or procedure; or
6. Except as otherwise provided in subsection C, any other method, if the identity of the collateral is objectively determinable.
C. A description of collateral as "all the debtor's assets" or "all the debtor's personal property" or using words of similar import does not reasonably identify the collateral.
D. Except as otherwise provided in subsection E, a description of a security entitlement, securities account or commodity account is sufficient if it describes:
1. The collateral by those terms or as investment property; or
2. The underlying financial asset or commodity contract.
E. A description only by type of collateral defined in this title is an insufficient description of:
1. A commercial tort claim; or
2. In a consumer transaction, consumer goods, a security entitlement, a securities account or a commodity account.