2017 Arizona Revised Statutes
Title 44 - Trade and Commerce
§ 44-1042 Failure of assignor to supply inventory as prima facie evidence of concealment of property by assignor; examination of assignor by court upon application of assignee or creditor

Universal Citation: AZ Rev Stat § 44-1042 (2017)

44-1042. Failure of assignor to supply inventory as prima facie evidence of concealment of property by assignor; examination of assignor by court upon application of assignee or creditor

A. No assignment shall be declared fraudulent or void for lack of an inventory or list as required under the provisions of this article, but if such list and inventory are not annexed and verified as provided in section 44-1033, it is prima facie evidence that the assignor has secreted and concealed some portion of his property from his assignee, unless, upon the demand of the assignee or a creditor, the verified inventory and list are furnished to the assignee.

B. If an assignee or creditor has reason to believe that a debtor has concealed any of his property or estate for the purpose of defrauding creditors, the superior court shall, upon application of the assignee or creditor, cause the debtor to appear before it and disclose under oath any knowledge or information he has of such concealment.

Disclaimer: These codes may not be the most recent version. Arizona may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.