Arizona § 12-1588 Answer disclosing shares of stock; judgment and sale

Arizona Statutes

§ 12-1588 — Answer disclosing shares of stock; judgment and sale

Arizona § 12-1588

Title 12Arizona Revised Statutes

Ch. 9SPECIAL ACTIONS AND PROCEEDINGS TO ENFORCE CLAIMS OR JUDGMENTS

Art. 4Garnishment of Monies or Property

This text of Arizona § 12-1588 (Answer disclosing shares of stock; judgment and sale) is published on Counsel Stack Legal Research, covering Arizona primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ariz. Rev. Stat. Ann. § 12-1588 (2026).

Text

A.If the garnishee is a corporation and it appears from the answer or otherwise that the judgment debtor is or was when the writ of garnishment was served the owner of any shares of stock in the corporation, or of any interest therein, the court shall give judgment ordering the sale under execution in favor of the judgment creditor against the judgment debtor of such shares or interest of the judgment debtor, or so much thereof as is necessary to satisfy the execution.

B.The sale shall be conducted as other sales of personal property under execution, and the officer making the sale shall execute a transfer of the shares or interest to the purchaser, briefly reciting the judgment under which they were sold.

C.The sale shall pass to the purchaser all the right, title and interest which

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A. If the garnishee is a corporation and it appears from the answer or otherwise that the judgment debtor is or was when the writ of garnishment was served the owner of any shares of stock in the corporation, or of any interest therein, the court shall give judgment ordering the sale under execution in favor of the judgment creditor against the judgment debtor of such shares or interest of the judgment debtor, or so much thereof as is necessary to satisfy the execution.

B. The sale shall be conducted as other sales of personal property under execution, and the officer making the sale shall execute a transfer of the shares or interest to the purchaser, briefly reciting the judgment under which they were sold.

C. The sale shall pass to the purchaser all the right, title and interest which the judgment debtor had in the shares of stock, or in the corporation, and the officers of the corporation shall enter the sale and transfer on the books of the corporation as if they had been made by the judgment debtor.