Arizona § 33-2612 Duties of owner

Arizona Statutes

§ 33-2612 — Duties of owner

Arizona·Title 33 Arizona Revised Statutes·Ch. 24 UNIFORM COMMERCIAL REAL ESTATE RECEIVERSHIP ACT·Art. 1 General Provisions

A.An owner shall:

1.Assist and cooperate with the receiver in the administration of the receivership and the discharge of the receiver's duties.

2.Preserve and turn over to the receiver all receivership property in the owner's possession, custody or control.

3.Identify all records and other information relating to the receivership property, including passwords, authorizations or other information needed to obtain or maintain access to or control of the receivership property and make available to the receiver the records and information in the owner's possession, custody or control.

4.On subpoena, submit to examination under oath by the receiver concerning the acts, conduct, property, liabilities and financial condition of the owner or any matter relating to the receivership proper

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A. An owner shall:

1. Assist and cooperate with the receiver in the administration of the receivership and the discharge of the receiver's duties.

2. Preserve and turn over to the receiver all receivership property in the owner's possession, custody or control.

3. Identify all records and other information relating to the receivership property, including passwords, authorizations or other information needed to obtain or maintain access to or control of the receivership property and make available to the receiver the records and information in the owner's possession, custody or control.

4. On subpoena, submit to examination under oath by the receiver concerning the acts, conduct, property, liabilities and financial condition of the owner or any matter relating to the receivership property or the receivership.

5. Perform any duty imposed by court order, this chapter or another law other than this chapter.

B. If an owner is a person other than an individual, this section applies to each officer, director, manager, member, partner, trustee or other person exercising or having the power to exercise control over the affairs of the owner.

C. If a person knowingly fails to perform a duty imposed by this section, the court may:

1. Award the receiver actual damages caused by the person's failure, reasonable attorney fees and costs.

2. Sanction the failure as civil contempt.

Arizona § 33-2612 (Duties of owner) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.