2017 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

Universal Citation: AZ Rev Stat § 44-1033 (2017)

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.

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