Arizona § 9-1105 Financial statement of trustee; disposition of funds

Arizona Statutes

§ 9-1105 — Financial statement of trustee; disposition of funds

Arizona § 9-1105

Title 9Arizona Revised Statutes

Ch. 10TOWNSITES

Art. 1General Provisions

This text of Arizona § 9-1105 (Financial statement of trustee; disposition of funds) 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. § 9-1105 (2026).

Text

A.Within sixty days after the first publication provided for by this article, the trustee shall make a full and true statement in writing of all monies expended by the trustee, and the trustee's reasonable charges for time and services in the administration of the trust to that time that shall be and remain a first charge on the lands in favor of the trustee.

B.The money collected shall be applied first to reimburse the parties who advanced the money to enter the townsite with interest at ten percent a year, and then to the discharge of other outstanding claims incurred in entering the townsite or executing the trust. Any surplus shall be paid to the governing body of the city or town, if incorporated, for making public improvements, or, if unincorporated, for making such public improv

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A. Within sixty days after the first publication provided for by this article, the trustee shall make a full and true statement in writing of all monies expended by the trustee, and the trustee's reasonable charges for time and services in the administration of the trust to that time that shall be and remain a first charge on the lands in favor of the trustee.

B. The money collected shall be applied first to reimburse the parties who advanced the money to enter the townsite with interest at ten percent a year, and then to the discharge of other outstanding claims incurred in entering the townsite or executing the trust. Any surplus shall be paid to the governing body of the city or town, if incorporated, for making public improvements, or, if unincorporated, for making such public improvements as may be directed by a meeting of the citizens of the town to be held after thirty days notice by the trustee.