reglab/statecodes huggingface dataset:
2023 Arizona Revised Statutes › Title 44 - Trade and Commerce › § 44-333 - Erroneous advice or misleading statements by the department; abatement of penalties and interest; definitions

44-333.
Erroneous advice or misleading statements by the department;  abatement of penalties and interest;  definitions
A. The department shall not require interest or a penalty on unclaimed property demanded as a deficiency if either:
1. The deficiency is directly attributable to erroneous written advice furnished to the holder by an employee of the department acting in an official capacity in response to a specific request from the holder and not from the holder s failure to provide adequate or accurate information.
2. All of the following are true:
(a) An unclaimed property report or comparable document or unclaimed property ruling prepared by the department contains a statement that,  if followed by a holder,  would cause the holder to misapply this title.
(b) The holder reasonably relies on the statement.
(c) The holder s underpayment directly results from this reliance.
B. Each employee of the department,  at the time any oral advice is given to any person,  shall inform the person that the department is not bound by that oral advice.
C. For purposes of this section:
1. " Unclaimed property report"  includes the instructions that the department prepares for use with the unclaimed property report or comparable document.
2. " Unclaimed property ruling"  means a statement issued by the director and denominated as an unclaimed property ruling or an unclaimed property procedure.
2023 Arizona Revised Statutes › Title 44 - Trade and Commerce › § 44-334 - Basis for evaluating employee performance

44-334.
Basis for evaluating employee performance
A. The department shall establish procedures to monitor the performance of department employees and contingent fee contract auditors that include,  if applicable,  using evaluations obtained from holders.
B. The department shall not evaluate an employee on the basis of unclaimed property demanded or collected by that employee.
C. The department shall develop metrics to evaluate the accuracy of unclaimed property auditor recommendations to the department and whether such recommendations were not accepted or approved by the department. The outcome of this evaluation metric may be taken into consideration when developing audit engagements entered into on or after August 6,  2016.
2023 Arizona Revised Statutes › Title 44 - Trade and Commerce › § 44-335 - No additional audits or proposed increased demands; exceptions

44-335.
No additional audits or proposed increased demands;  exceptions
A. When the department completes an audit and a final examination report has been completely determined under this title,  the holder s liability for the particular unclaimed property for the period subjected to the audit is fixed and determined,  and no additional audit for the particular type of property specified in the final exam report may be conducted except under the following circumstances:
1. If a holder files a claim for refund,  any departmental audit of the claim is limited to the issues presented on the claim for refund.
2. If a holder failed to disclose material information during the audit,  or has falsified books or records or otherwise engaged in an action that prevented the department from conducting an accurate audit,  the applicability of this subsection may be part of a subsequent protest and may be contested by the holder.
B. If the department issues a final examination report,  the department may not increase the amount of the property demanded in the final examination report except in one or more of the following circumstances:
1. The holder has made a material misrepresentation of facts.
2. The holder has failed to disclose a material fact to the auditor.
3. The department has requested information and the holder fails to provide that information to the department.
4. After issuing the final examination report but before the demand becomes final,  the court of appeals or the supreme court issues a decision,  the application of which causes the unclaimed property initially proposed to increase.
2023 Arizona Revised Statutes › Title 44 - Trade and Commerce › § 44-337 - Abatement of interest for errors or delays caused by the department

44-337.
Abatement of interest for errors or delays caused by the department
A. The director may abate all or part of interest accrued on:
1. An unclaimed property deficiency due to any unreasonable error or delay by an officer or employee of the department acting in the employee s official capacity.
2. Any payment of unclaimed property to the extent that any error or delay in the payment is attributable to an officer or employee of the department being unreasonably erroneous or dilatory.
B. The director may consider an error or delay only if no significant aspect of the error or delay can be attributed to the holder and after the department has contacted the holder in writing with respect to the deficiency or payment.
C. The director s decision is the department s final decision or order and,  except as provided in section 41-1092.08,  subsection H,  is subject to judicial review pursuant to title 12,  chapter 7,  article 6.
D. The department shall provide a written document to each new transaction privilege tax licensee that provides information regarding the reporting and remittance of unclaimed property.
2023 Arizona Revised Statutes › Title 44 - Trade and Commerce › § 44-338 - Appeal of determination of amounts due

44-338.
Appeal of determination of amounts due
A. A determination by the department under section 44-322 that any unclaimed property is reportable,  or a demand for interest or penalties,  constitutes an appealable agency action pursuant to section 41-1092,  paragraph 3. The holder may appeal the department s determination pursuant to title 41,  chapter 6,  article 10.
B. Except as provided in section 41-1092.08,  subsection H,  a final decision of the department is subject to judicial review pursuant to title 12,  chapter 7,  article 6.
C. If the holder does not file a notice of appeal as provided in subsections A and B of this section,  the amount determined to be due becomes final at the expiration of the period provided for appeal and the holder is deemed to have waived and abandoned the right to question the amount determined to be due.
2023 Arizona Revised Statutes › Title 44 - Trade and Commerce › § 44-339 - Signatures for documents; alternative methods; definition

44-339.
Signatures for documents;  alternative methods;  definition
The department may prescribe by administrative rule alternative methods for signing,  subscribing or verifying any report or claim required or permitted to be filed with the department pursuant to this article that have the same validity and consequence as the actual signature or written declaration of the taxpayer or other person required to sign,  subscribe or verify the report or claim. While the department is adopting a rule prescribing alternative methods for signing,  subscribing or verifying any report or claim required to be filed with the department pursuant to this article,  the director,  by tax ruling,  may waive the requirement of a signature for a particular type or class of any report or claim required or permitted to be filed with the department pursuant to this article. For the purposes of this section,  " tax ruling"  has the same meaning prescribed in section 42-2052.
2023 Arizona Revised Statutes › Title 44 - Trade and Commerce › § 44-340 - Auditor contingent fee contracts; notice of rights

44-340.
Auditor contingent fee contracts;  notice of rights
Audits for enforcement of the provisions of this article,  including those performed by contingent fee auditors,  shall provide holders of unclaimed property a notice of rights. At a minimum,  the notice shall include:
1. A statement that the department makes all final decisions regarding recommendations by a contingent fee auditor that any unclaimed property is reportable.
2. Information on corrections and appeals procedures.
3. Where to file complaints of improper,  abusive or inefficient service by employees or contingent fee auditors of the department.
4. Contact information of the department's designated employees.
2023 Arizona Revised Statutes › Title 44 - Trade and Commerce › § 44-351 - Definitions

44-351.
Definitions
For the purposes of this chapter,  unless the context otherwise requires:
1. " Lender"  means a person whose name appears on the records of the museum as the person legally entitled to property held or owing by the museum.
2. " Lender's last known address"  means a description of the location of the lender,  as shown on the museum's records pertaining to the property on loan from the lender,  which is sufficient for the purpose of delivering mail.
3. " Loan" ,  " loaned"  and " on loan"  includes all deposits of property with a museum which are not accompanied by a transfer of title to the property.
4. " Museum"  means an organized and permanent nonprofit or public institution which is primarily educational,  scientific,  historic or aesthetic in purpose and which owns,  borrows,  cares for,  studies,  archives or exhibits property. Museum includes historical societies,  parks,  sites and monuments and libraries.
5. " Person"  means an individual,  association,  trust partnership,  corporation or similar organization having a legal interest in property in the possession of a museum.
6. " Property"  means all tangible objects,  animate and inanimate,  under a museum's care which have intrinsic scientific,  historic,  artistic or cultural value.
7. " Undocumented property"  means property in the possession of a museum for which the museum has no reasonable means of determining its owner.
2023 Arizona Revised Statutes › Title 44 - Trade and Commerce › § 44-352 - Acquiring title to loaned property

44-352.
Acquiring title to loaned property
A. A museum may acquire title to loaned property pursuant to this section. If,  since the expiration date of the loan,  seven years have passed with no written contact between the lender and the museum or if the loan has no expiration date and at least seven years have passed since the loan was made and written contact between the lender and the museum occurred the museum shall send a notice by certified mail,  return receipt requested,  to the lender's last known address. This notice shall contain a statement that the loan is now terminated as well as all information required in the notice under section 44-353,  subsection A,  paragraph 1. If proof of delivery of the notice is not received within thirty days from the date the notice was mailed,  the museum shall publish a notice as prescribed by section 44-353,  subsection A,  paragraph 1.
B. If the requirements of subsection A of this section are met the museum may acquire title to the loaned property by sending a notice by certified mail,  return receipt requested,  to the lender's last known address. This notice shall contain all information required in the notice under section 44-353,  subsection A,  paragraph 2. If proof of delivery of the notice is not received within thirty days from the date the notice was mailed,  the museum shall publish a notice as prescribed by section 44-353,  subsection A,  paragraph 2.
2023 Arizona Revised Statutes › Title 44 - Trade and Commerce › § 44-353 - Acquiring title to undocumented property

44-353.
Acquiring title to undocumented property
A. A museum may acquire title to undocumented property held by a museum for seven years or longer,  verifiable through written records,  with no valid claim or contact by any person in the following manner:
1. The museum shall publish a notice once a week for two consecutive weeks in a newspaper of general circulation in the county in which the museum is located and in the county in which the lender's last known address is located,  if applicable. This notice shall include:
(a) A brief and general description of the property.
(b) The date or approximate date of the loan or acquisition by the museum,  if known.
(c) Notice of the intent of the museum to claim title if no valid claims are made within sixty-five days from the date of the first notice,  if no publication in a newspaper is required,  or publication under this section.
(d) The name and address of the museum representative to contact for more information or to make a claim.
(e) The lender's name and last known address,  if known.
2. If no valid claims have been made by the end of sixty-five days,  the museum shall publish a second notice once a week for two consecutive weeks in a newspaper of general circulation in the county in which the museum is located and in the county in which the lender's last known address is located,  if applicable. This second notice shall include:
(a) A brief and general description of the property.
(b) The date or approximate date of the loan or acquisition by the museum,  if known.
(c) Notice that the museum claims title to the property as of the date described in paragraph 1,  subdivision (c) of this subsection.
(d) The lender's name and last known address,  if known.
B. On compliance with subsection A of this section clear and unrestricted title is transferred to the museum as of the date described in subsection A,  paragraph 1,  subdivision (c) of this section.
2023 Arizona Revised Statutes › Title 44 - Trade and Commerce › § 44-354 - Reclamation of property

44-354.
Reclamation of property
After title to the loaned property is transferred to the museum the lender has two years to bring an action against the museum to claim the property. At the end of this two year period no action or proceeding may be brought against the museum,  its employees or agents by a lender for any good faith action taken by the museum pursuant to this chapter.
2023 Arizona Revised Statutes › Title 44 - Trade and Commerce › § 44-355 - Museum obligations to the lender

44-355.
Museum obligations to the lender
In order to take title pursuant to this chapter a museum shall have the following obligations to a lender:
1. The museum must keep written records regarding the property for at least two years from the date of taking title pursuant to this chapter.
2. The museum must keep written records on all loans acquired. Records shall contain the owner's name,  address and phone number,  the duration of the loan period and beginning date of the loan period.
3. The museum is responsible for notifying a lender of the museum's change of address or dissolution.
4. The museum shall inform the lender,  at the time the loan is made,  of state laws governing unclaimed property.
2023 Arizona Revised Statutes › Title 44 - Trade and Commerce › § 44-401 - Definitions

44-401.
Definitions
In this chapter,  unless the context otherwise requires:
1. " Improper means"  includes theft,  bribery,  misrepresentation,  breach or inducement of a breach of a duty to maintain secrecy or espionage through electronic or other means.
2. " Misappropriation"  means either:
(a) Acquisition of a trade secret of another by a person who knows or has reason to know that the trade secret was acquired by improper means.
(b) Disclosure or use of a trade secret of another without express or implied consent by a person who either:
(i) Used improper means to acquire knowledge of the trade secret.
(ii) At the time of disclosure or use,  knew or had reason to know that his knowledge of the trade secret was derived from or through a person who had utilized improper means to acquire it,  was acquired under circumstances giving rise to a duty to maintain its secrecy or limit its use or was derived from or through a person who owed a duty to the person seeking relief to maintain its secrecy or limit its use.
(iii) Before a material change of his position,  knew or had reason to know that it was a trade secret and that knowledge of it had been acquired by accident or mistake.
3. " Person"  means a natural person,  corporation,  business trust,  estate,  trust,  partnership,  association,  joint venture,  government,  governmental subdivision or agency or any other legal or commercial entity.
4. " Trade secret"  means information,  including a formula,  pattern,  compilation,  program,  device,  method,  technique or process,  that both:
(a) Derives independent economic value,  actual or potential,  from not being generally known to,  and not being readily ascertainable by proper means by,  other persons who can obtain economic value from its disclosure or use.
(b) Is the subject of efforts that are reasonable under the circumstances to maintain its secrecy.
2023 Arizona Revised Statutes › Title 44 - Trade and Commerce › § 44-402 - Injunctive relief

44-402.
Injunctive relief
A. Actual or threatened misappropriation may be enjoined. On application to the court,  the court shall terminate an injunction if the trade secret has ceased to exist,  but the court may continue the injunction for an additional reasonable period of time in order to eliminate commercial advantage that otherwise would be derived from the misappropriation.
B. In exceptional circumstances an injunction may condition future use on payment of a reasonable royalty for no longer than the period of time for which the use could have been prohibited. Exceptional circumstances include,  but are not limited to,  a material and prejudicial change of position before acquiring knowledge or reason to know of misappropriation that renders a prohibitive injunction inequitable.
C. In appropriate circumstances,  affirmative acts to protect a trade secret may be compelled by court order.
2023 Arizona Revised Statutes › Title 44 - Trade and Commerce › § 44-403 - Damages

44-403.
Damages
A. Except to the extent that a material and prejudicial change of position before acquiring knowledge or reason to know of misappropriation renders a monetary recovery inequitable,  a complainant is entitled to recover damages for misappropriation. Damages may include both the actual loss caused by misappropriation and the unjust enrichment caused by misappropriation that is not taken into account in computing actual loss. In lieu of damages measured by any other methods,  the damages caused by misappropriation may be measured by imposition of liability for a reasonable royalty for a misappropriator's unauthorized disclosure or use of a trade secret.
B. If willful and malicious misappropriation exists,  the court may award exemplary damages in an amount not exceeding twice any award made under subsection A.
2023 Arizona Revised Statutes › Title 44 - Trade and Commerce › § 44-404 - Attorney fees

44-404.
Attorney fees
The court may award reasonable attorney fees to the prevailing party for any of the following:
1. A claim of misappropriation made in bad faith.
2. A motion to terminate an injunction made or resisted in bad faith.
3. Willful and malicious misappropriation.
2023 Arizona Revised Statutes › Title 44 - Trade and Commerce › § 44-405 - Preservation of secrecy; definition

44-405.
Preservation of secrecy;  definition
A. In an action under this chapter or section 13-1802 or 13-2316.02 a court shall preserve the secrecy of an alleged trade secret by reasonable means.
B. For the purposes of this section,  " reasonable means"  includes granting protective orders in connection with discovery proceedings,  holding in camera hearings,  sealing the records of the action or ordering a person involved in the litigation not to disclose an alleged trade secret without prior court approval.
2023 Arizona Revised Statutes › Title 44 - Trade and Commerce › § 44-407 - Effect on other laws

44-407.
Effect on other laws
A. Except as provided in subsection B,  this chapter displaces conflicting tort,  restitutionary and other laws of this state providing civil remedies for misappropriation of a trade secret.
B. This chapter does not affect:
1. Contractual remedies,  whether or not based on misappropriation of a trade secret.
2. Other civil remedies that are not based on misappropriation of a trade secret.
3. Criminal remedies,  whether or not based on misappropriation of a trade secret.
2023 Arizona Revised Statutes › Title 44 - Trade and Commerce › § 44-1001 - Definitions

44-1001.
Definitions
In this article,  unless the context otherwise requires:
1. " Asset"  means property of a debtor,  but asset does not include any of the following:
(a) Property to the extent it is encumbered by a valid lien.
(b) Property to the extent it is generally exempt under nonbankruptcy law.
(c) An interest in property held in tenancy by the entireties to the extent it is not subject to process by a creditor holding a claim against only one tenant.
2. " Claim"  means a right to payment,  whether or not the right is reduced to judgment,  liquidated,  unliquidated,  fixed,  contingent,  matured,  unmatured,  disputed,  undisputed,  legal,  equitable,  secured or unsecured.
3. " Creditor"  means a person who has a claim.
4. " Debt"  means liability on a claim.
5. " Debtor"  means a person who is liable on a claim.
6. " Lien"  means a charge against or an interest in property to secure payment of a debt or performance of an obligation and includes a security interest created by agreement,  a judicial lien obtained by legal or equitable process or proceedings,  a common law lien or a statutory lien.
7. " Person"  means an individual,  partnership,  corporation,  association,  organization,  government or governmental subdivision or agency,  business trust,  estate,  trust or any other legal or commercial entity.
8. " Property"  means anything that may be the subject of ownership.
9. " Transfer"  means every mode,  direct or indirect,  absolute or conditional,  voluntary or involuntary,  of disposing of or parting with an asset or an interest in an asset and includes payment of money,  release,  lease and creation of a lien or other encumbrance.
10. " Valid lien"  means a lien that is effective against the holder of a judicial lien subsequently obtained by legal or equitable process or proceedings and that is not subject to avoidance under this article.
2023 Arizona Revised Statutes › Title 44 - Trade and Commerce › § 44-1002 - Insolvency

44-1002.
Insolvency
A. A debtor is insolvent if the sum of the debtor's debts is greater than all of the debtor's assets at a fair valuation.
B. A debtor who is generally not paying his debts as they become due is presumed to be insolvent.
C. A partnership is insolvent under subsection A if the sum of the partnership's debts is greater than the aggregate,  at a fair valuation,  of all of the partnership's assets and the sum of the excess of the value of each general partner's nonpartnership assets over the partner's nonpartnership debts.
D. Assets under this section do not include property that has been transferred,  concealed or removed with intent to hinder,  delay or defraud creditors or that has been transferred in a manner making the transfer voidable under this article.
E. Debts under this section do not include an obligation to the extent it is secured by a valid lien on property of the debtor not included as an asset.
F. Debts under this section include the full amount of the debtor's potential liability under contracts of guarantee and surety. The assets of the debtor shall include a fair valuation of the rights of the debtor in connection with the contracts under indemnity or similar agreements and under equitable principles,  including contribution and subrogation.
2023 Arizona Revised Statutes › Title 44 - Trade and Commerce › § 44-1003 - Value

44-1003.
Value
A. Value is given for a transfer or an obligation if,  in exchange for the transfer or obligation,  property is transferred or an antecedent debt is secured or satisfied,  but value does not include an unperformed promise to furnish support to the debtor or another person unless the promise is made in the ordinary course of the promisor's business.
B. For the purposes of section 44-1004,  subsection A,  paragraph 2 and section 44-1005,  a person gives a reasonably equivalent value if the person acquires an interest of the debtor in an asset pursuant to a regularly conducted,  noncollusive foreclosure sale or execution of a power of sale for the acquisition or disposition of the interest of the debtor on default under a mortgage,  deed of trust or security agreement.
C. A transfer is made for present value if the exchange between the debtor and the transferee is intended by them to be contemporaneous and is in fact substantially contemporaneous.
2023 Arizona Revised Statutes › Title 44 - Trade and Commerce › § 44-1004 - Transfers fraudulent as to present and future creditors

44-1004.
Transfers fraudulent as to present and future creditors
A. A transfer made or obligation incurred by a debtor is fraudulent as to a creditor,  whether the creditor's claim arose before or after the transfer was made or the obligation was incurred,  if the debtor made the transfer or incurred the obligation under any of the following:
1. With actual intent to hinder,  delay or defraud any creditor of the debtor.
2. Without receiving a reasonably equivalent value in exchange for the transfer or obligation,  and the debtor either:
(a) Was engaged or was about to engage in a business or a transaction for which the remaining assets of the debtor were unreasonably small in relation to the business or transaction.
(b) Intended to incur,  or believed or reasonably should have believed that he would incur,  debts beyond his ability to pay as they became due.
B. In determining actual intent under subsection A,  paragraph 1,  consideration may be given,  among other factors,  to whether:
1. The transfer or obligation was to an insider.
2. The debtor retained possession or control of the property transferred after the transfer.
3. The transfer or obligation was disclosed or concealed.
4. Before the transfer was made or obligation was incurred,  the debtor had been sued or threatened with suit.
5. The transfer was of substantially all of the debtor's assets.
6. The debtor absconded.
7. The debtor removed or concealed assets.
8. The value of the consideration received by the debtor was reasonably equivalent to the value of the asset transferred or the amount of the obligation incurred.
9. The debtor was insolvent or became insolvent shortly after the transfer was made or the obligation was incurred.
10. The transfer occurred shortly before or shortly after a substantial debt was incurred.
11. The debtor transferred the essential assets of the business to a lienor who transferred the assets to an insider of the debtor.
2023 Arizona Revised Statutes › Title 44 - Trade and Commerce › § 44-1005 - Transfers fraudulent as to present creditors

44-1005.
Transfers fraudulent as to present creditors
A transfer made or obligation incurred by a debtor is fraudulent as to a creditor whose claim arose before the transfer was made or the obligation was incurred if the debtor made the transfer or incurred the obligation without receiving a reasonably equivalent value in exchange for the transfer or obligation and the debtor was insolvent at that time or the debtor became insolvent as a result of the transfer or obligation.
2023 Arizona Revised Statutes › Title 44 - Trade and Commerce › § 44-1006 - When transfer is made or obligation is incurred

44-1006.
When transfer is made or obligation is incurred
For the purposes of this article:
1. A transfer is made:
(a) With respect to an asset that is real property other than a fixture,  but including the interest of a seller or purchaser under a contract for the sale of the asset,  when the transfer is so far perfected that a good faith purchaser of the asset from the debtor against whom applicable law permits the transfer to be perfected cannot acquire an interest in the asset that is superior to the interest of the transferee.
(b) With respect to an asset that is not real property or that is a fixture,  when the transfer is so far perfected that a creditor on a simple contract cannot acquire a judicial lien through attachment,  garnishment levy or other process otherwise than under this article that is superior to the interest of the transferee.
2. If applicable law permits the transfer to be perfected as provided in paragraph 1 and the transfer is not so perfected before the commencement of an action for relief under this article,  the transfer is deemed made immediately before the commencement of the action.
3. If applicable law does not permit the transfer to be perfected as provided in paragraph 1,  the transfer is made when it becomes effective between the debtor and the transferee.
4. A transfer is not made until the debtor has acquired rights in the asset transferred.
5. An obligation is incurred:
(a) If oral,  when it becomes effective between the parties.
(b) If evidenced by a writing,  when the writing executed by the obligor is delivered to or for the benefit of the obligee.
2023 Arizona Revised Statutes › Title 44 - Trade and Commerce › § 44-1007 - Remedies of creditors

44-1007.
Remedies of creditors
A. In an action for relief against a transfer or obligation under this article,  a creditor,  subject to the limitations in sections 44-1008 and 44-1009,  may obtain one or more of the following remedies:
1. Garnishment against the fraudulent transferee or the recipient of the fraudulent obligation,  in accordance with the procedure prescribed by law in obtaining such remedy.
2. Avoidance of the transfer or obligation to the extent necessary to satisfy the creditor's claim.
3. An attachment or other provisional remedy against the asset transferred or other property of the transferee in accordance with the procedure prescribed by law in obtaining such remedy.
4. Subject to applicable principles of equity and in accordance with applicable rules of civil procedure:
(a) An injunction against further disposition by the debtor or a transferee,  or both,  of the asset transferred or of other property.
(b) Appointment of a receiver to take charge of the asset transferred or of other property of the transferee.
(c) Any other relief the circumstances may require.
B. Subject to the limitations in sections 44-1008 and 44-1009,  if a creditor has obtained a judgment on a claim against the debtor,  the creditor,  if the court so orders,  may levy execution on the asset transferred or its proceeds.
2023 Arizona Revised Statutes › Title 44 - Trade and Commerce › § 44-1008 - Defenses, liability and protection of transferee

44-1008.
Defenses,  liability and protection of transferee
A. A transfer or obligation is not voidable under section 44-1004,  subsection A,  paragraph 1 against a person who took in good faith and for a reasonably equivalent value or against any subsequent transferee or obligee.
B. Except as otherwise provided in this section,  to the extent a transfer is voidable in an action by a creditor under section 44-1007,  subsection A,  paragraph 1,  the creditor may recover judgment for the value of the asset transferred,  as adjusted under subsection C of this section,  or the amount necessary to satisfy the creditor's claim,  whichever is less. The judgment may be entered against either:
1. The first transferee of the asset or the person for whose benefit the transfer was made.
2. Any subsequent transferee other than a good faith transferee who took for value or from any subsequent transferee.
C. If the judgment under subsection B of this section is based on the value of the asset transferred,  the judgment must be for an amount equal to the value of the asset at the time of the transfer,  subject to adjustment as the equities may require.
D. Notwithstanding voidability of a transfer or an obligation under this article,  a good faith transferee or obligee is entitled,  to the extent of the value given the debtor for the transfer or obligation,  to any of the following:
1. A lien on or a right to retain any interest in the asset transferred.
2. Enforcement of any obligation incurred.
3. A reduction in the amount of the liability on the judgment.
E. A transfer is not voidable under section 44-1004,  subsection A,  paragraph 2 or section 44-1005 if the transfer results from:
1. Termination of a lease on default by the debtor if the termination is pursuant to the lease and applicable law.
2. Enforcement of a security interest in compliance with title 47,  chapter 9.
2023 Arizona Revised Statutes › Title 44 - Trade and Commerce › § 44-1009 - Extinguishment of claim for relief

44-1009.
Extinguishment of claim for relief
A claim for relief with respect to a fraudulent transfer or obligation under this article is extinguished unless an action is brought:
1. Under section 44-1004,  subsection A,  paragraph 1 within four years after the transfer was made or the obligation was incurred or,  if later,  within one year after the fraudulent nature of the transfer or obligation was or through the exercise of reasonable diligence could have been discovered by the claimant.
2. Under section 44-1004,  subsection A,  paragraph 2 or section 44-1005,  within four years after the transfer was made or the obligation was incurred.
2023 Arizona Revised Statutes › Title 44 - Trade and Commerce › § 44-1010 - Supplementary provisions

44-1010.
Supplementary provisions
Unless displaced by the provisions of this article,  the principles of law and equity,  including the law merchant and the law relating to principal and agent,  estoppel,  laches,  fraud,  misrepresentation,  duress,  coercion,  mistake,  insolvency or other validating or invalidating cause,  supplement its provisions.
2023 Arizona Revised Statutes › Title 44 - Trade and Commerce › § 44-1031 - Effect of assignment for the benefit of creditors; acknowledgment and recording; invalidity of assignments not made in accordance with this article

44-1031.
Effect of assignment for the benefit of creditors;  acknowledgment and recording;  invalidity of assignments not made in accordance with this article
A. Every assignment made by an insolvent debtor,  or in contemplation of insolvency,  for the benefit of his creditors,  shall provide,  except as otherwise provided in this article,  for a distribution of all his real and personal property other than that which is by law exempt from execution,  among all his creditors in proportion to their respective claims. However the assignment is made or expressed,  it shall have such effect and shall be construed to pass all such property,  whether or not specified therein.
B. Every assignment for the benefit of creditors shall be acknowledged and recorded in the manner provided by law for conveyances of real or other property.
C. Assignments for the benefit of creditors under the common law are declared contrary to the public policy of the state and are abolished,  and all assignments for the benefit of creditors are void and of no force and effect unless made in accordance with the provisions of this article.
2023 Arizona Revised Statutes › Title 44 - Trade and Commerce › § 44-1032 - Assignment for the benefit of consenting creditors; effect; execution of release by creditors

44-1032.
Assignment for the benefit of consenting creditors;  effect;  execution of release by creditors
Any debtor desiring to do so may make an assignment for the benefit of such of his creditors only as will consent to accept their proportional share of his estate,  and discharge him from their respective claims. In such case the benefits of the assignment shall be limited and restricted to the creditors consenting thereto. The debtor shall thereupon be discharged from all further liability to the consenting creditors on account of their respective claims,  and when paid they shall execute and deliver to the assignee,  for the debtor,  a release therefrom.
2023 Arizona Revised Statutes › Title 44 - Trade and Commerce › § 44-1033 - Filing of assignment; accompanying inventory of property and indebtedness required; docketing of assignment by clerk

44-1033.
Filing of assignment;  accompanying inventory of property and indebtedness required;  docketing of assignment by clerk
A. The debtor shall forthwith file with the clerk of the superior court of the county where the principal place of business of the debtor is located a copy of the assignment,  to which shall be annexed an inventory containing:
1. A true and full account of all the creditors of the debtor or debtors.
2. The place of residence of each creditor,  if known to the debtor or debtors,  and if not known,  such fact shall be stated.
3. The amount owing each creditor and the nature of each debt or demand,  whether arising on written security,  account or otherwise.
4. The true cause of and consideration for each such indebtedness and the place where the indebtedness arose.
5. Any judgment,  mortgage,  collateral or other security for the payment of the debt.
6. A full and true inventory of all the debtor's property at the date of the assignment,  both real and personal,  in law or equity,  and all encumbrances thereon,  and of all vouchers and securities relating thereto,  and the value of such property according to the best knowledge of the debtor.
B. An affidavit shall be made by the debtor,  and shall be annexed to and delivered with the inventory or schedule,  that the inventory or schedule is in all respects just and true according to his best knowledge and belief.
C. No provision of this article shall affect the assignor's right to retain property exempt from execution by the law of this state. The list and inventory shall not be conclusive except as against the debtor making it.
D. The clerk shall docket the assignment as an action in probate. The qualifications of assignees shall be those prescribed for administrators of estates.
2023 Arizona Revised Statutes › Title 44 - Trade and Commerce › § 44-1034 - Recording of deed of assignment by assignee; bond of assignee; recording; actions upon bond; duty of assignee to execute assignment

44-1034.
Recording of deed of assignment by assignee;  bond of assignee;  recording;  actions upon bond;  duty of assignee to execute assignment
A. The assignee shall forthwith,  after execution and delivery of the deed of assignment,  record it as provided in this article,  and execute a bond with securities in an amount determined and approved by the judge of the superior court of the county where the assignment is recorded,  or if in more than one county,  then in the county where the principal place of business of the debtor is located,  conditioned that the assignee will faithfully discharge his duties as assignee,  and that he will make proportional distribution of the net proceeds of the property among the creditors entitled thereto.
B. The bond shall be payable to the state of Arizona and shall be filed with the county recorder. It shall inure to the benefit of the assignor and the creditors,  who may maintain an action thereon,  in his or their own name,  jointly or severally,  for any breach thereof.
C. Upon the filing of the bond the assignee shall take possession of the assigned property and execute the assignment.
2023 Arizona Revised Statutes › Title 44 - Trade and Commerce › § 44-1035 - Notice of appointment of assignee; publication

44-1035.
Notice of appointment of assignee;  publication
The assignee shall,  within thirty days after recording the assignment,  give public notice of his appointment in some newspaper printed in the county where the assignor resides or where his principal business was conducted,  and as far as possible,  the assignee shall also give personal notice or notice by mail to each of the creditors.
2023 Arizona Revised Statutes › Title 44 - Trade and Commerce › § 44-1036 - Powers of court with respect to assignee; removal of assignee; appointment of assignee to fill vacancy

44-1036.
Powers of court with respect to assignee;  removal of assignee;  appointment of assignee to fill vacancy
A. The relationship of the court having jurisdiction of the insolvent estate and the assignee for the benefit of creditors shall be governed by the provisions which govern the relationship of a superior court and a receiver. The court shall have the same authority and jurisdiction as it has over a receiver appointed by the court.
B. If an assignee becomes unsuitable or refuses or neglects to perform the trust,  or mismanages the property,  the superior court may,  upon application of the assignor or a creditor,  upon reasonable notice by publication or otherwise to all parties interested,  as the court directs,  remove the assignee.
C. In case of removal of the assignee or vacancy in the office by death or otherwise the court shall appoint another in his place who shall have the same powers and be subject to the same liabilities as the original assignee.
2023 Arizona Revised Statutes › Title 44 - Trade and Commerce › § 44-1037 - Notice by creditors of consent to assignment; receipt by creditor of portion of claim as consent

44-1037.
Notice by creditors of consent to assignment;  receipt by creditor of portion of claim as consent
Creditors consenting to the assignment shall give the assignee written notice of consent within four months after publication of the notice required under section 44-1035,  and a creditor not assenting shall not receive or take any benefit under the assignment. A creditor who has no actual notice of the assignment may make known his assent any time before any distribution of assets is made under the assignment. Receipt by a creditor of any portion of his claim from the assignee is conclusive evidence of the assent of such creditor to the assignment.
2023 Arizona Revised Statutes › Title 44 - Trade and Commerce › § 44-1038 - Filing of statement of claim by creditors

44-1038.
Filing of statement of claim by creditors
Every creditor,  consenting to an assignment,  shall,  within six months from the time of the first publication of the notice of appointment of the assignee,  file with the assignee a distinct statement of the particular nature and amount of his claim against the debtor,  which shall be supported by an affidavit of the creditor,  his agent or attorney,  that the statement is true,  that the debt is just and that there are no credits or offsets that should be allowed against the claim,  except as shown by the statement. No creditor shall take any benefit under any assignment whatever who neglects to file this statement.
2023 Arizona Revised Statutes › Title 44 - Trade and Commerce › § 44-1039 - Statement of claim by creditor as justification for payment by assignee; action to dispute claim; duty of assignee to permit creditor to inspect claims filed by other creditors

44-1039.
Statement of claim by creditor as justification for payment by assignee;  action to dispute claim;  duty of assignee to permit creditor to inspect claims filed by other creditors
A. The statement of a creditor,  verified and filed with the assignee as provided in section 44-1038,  shall justify the assignee in allowing the claim as a valid claim against the estate,  and it shall be so allowed.
B. A creditor entitled to his proportional share of the debtor's property,  unless the assignor or other creditor disputing the claim shall,  within sixty days after expiration of the time within which creditors are required to file their statements,  commence an action in the superior court of the proper county to set aside the allowance and to restrain payment thereon. If it appears in such action that the claim or the disputed part thereof is not lawfully due,  the claim shall be disallowed in whole or in part,  and the assignee shall be restrained from paying the claim or any portion disallowed.
C. The assignee shall permit any creditor to take a copy of any other creditor's statement of claim filed with the assignee.
2023 Arizona Revised Statutes › Title 44 - Trade and Commerce › § 44-1040 - Discount of claims allowed but not due; amount payable on claim secured by collateral in possession of creditor

44-1040.
Discount of claims allowed but not due;  amount payable on claim secured by collateral in possession of creditor
Claims not due may be allowed at their present value by discounting them at the rate of interest mentioned in the contract,  if any,  otherwise at the legal rate. If any creditor holds collateral or security of less value than his debt,  the value thereof may be estimated by the assignee and only the difference between such value and the amount of the debt shall be allowed.
2023 Arizona Revised Statutes › Title 44 - Trade and Commerce › § 44-1041 - Right of assignee to property fraudulently conveyed by assignor; action by assignee or creditor to recover property fraudulently conveyed; non-recovery from bona fide purchaser

44-1041.
Right of assignee to property fraudulently conveyed by assignor;  action by assignee or creditor to recover property fraudulently conveyed;  non-recovery from bona fide purchaser
All property conveyed or transferred by the assignor previous to and in contemplation of the assignment with the intent or design to defeat,  delay or defraud creditors,  or to give preference to one creditor over another,  shall pass to the assignee by the assignment notwithstanding the transfer. The assignee,  or in case of his neglect or refusal any creditor may,  upon securing the assignee against cost or liability,  in the name of the assignee,  sue for,  recover,  collect and cause such property to be applied for the benefit of creditors as other property belonging to the debtor's estate in the hands of the assignee. If it appears in such action that the purchaser of such property bought it from the assignor in good faith for a valuable consideration and without reason to believe that the debtor was conveying or transferring the property with intent or design as set forth in this section,  the purchaser shall be held to have acquired,  as against the assignee and creditors,  a good and valid title to the property.
2023 Arizona Revised Statutes › Title 44 - Trade and Commerce › § 44-1042 - Failure of assignor to supply inventory as prima facie evidence of concealment of property by assignor; examination of assignor by court upon application of assignee or creditor

44-1042.
Failure of assignor to supply inventory as prima facie evidence of concealment of property by assignor;  examination of assignor by court upon application of assignee or creditor
A. No assignment shall be declared fraudulent or void for lack of an inventory or list as required under the provisions of this article,  but if such list and inventory are not annexed and verified as provided in section 44-1033,  it is prima facie evidence that the assignor has secreted and concealed some portion of his property from his assignee,  unless,  upon the demand of the assignee or a creditor,  the verified inventory and list are furnished to the assignee.
B. If an assignee or creditor has reason to believe that a debtor has concealed any of his property or estate for the purpose of defrauding creditors,  the superior court shall,  upon application of the assignee or creditor,  cause the debtor to appear before it and disclose under oath any knowledge or information he has of such concealment.
2023 Arizona Revised Statutes › Title 44 - Trade and Commerce › § 44-1044 - Garnishment of assignee by nonconsenting creditor

44-1044.
Garnishment of assignee by nonconsenting creditor
A creditor,  not consenting to the assignment,  may proceed by garnishment against the assignee for the excess of property remaining in his hands after payment to consenting creditors the amount of their debts and the costs and expenses of the assignment.
2023 Arizona Revised Statutes › Title 44 - Trade and Commerce › § 44-1045 - Distribution to creditors; compensation and expenses allowed assignee

44-1045.
Distribution to creditors;  compensation and expenses allowed assignee
A. When an assignee has in his possession funds of the estate of the assignor in an amount sufficient to pay ten per cent of the indebtedness of the assignor,  he shall make a pro rata distribution of the funds among the creditors.
B. The assignee shall receive reasonable compensation for his services and the necessary costs and expenses,  including attorney's fees,  of administering the assigned estate,  to be allowed by the superior court.