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2017 Arizona Revised Statutes
Title 35 - Public Finances
§ 35-1003 Enforceability
Universal Citation: AZ Rev Stat § 35-1003 (2017)
35-1003. Enforceability
Absent bad faith or actual knowledge to the contrary, a counterparty that enters into a swap agreement with a governmental entity may rely on a representation by that governmental entity that it is authorized or empowered to enter into the swap agreement. Notwithstanding the failure by that governmental entity to comply with the provisions of this chapter, that counterparty may enforce the swap agreement against the governmental entity.
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