power; public utilities; securities; repeal
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Progress
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- Introduced
- Passed House
- Passed Senate
- To Governor
- Became Law
Overview
This bill repeals specific sections of Arizona’s Revised Statutes related to public utilities and securities. It specifically removes titles 30 and 40, chapter 8 and 3, respectively. The bill also amends section 47-9109, which outlines the scope of laws governing security interests in various transactions, including agricultural liens and sales of accounts.
Key provisions
- Title 30, chapter 8, and Title 40, chapter 3 of the Arizona Revised Statutes are repealed.
- Section 47-9109 of the Arizona Revised Statutes is amended to define the scope of laws governing security interests.
- The bill excludes certain types of transactions from the application of the security interest laws, such as landlord’s liens (excluding agricultural liens), assignments of wages, and transfers of insurance policies.
- The law does not apply to liens on real property, except for specific categories like fixtures and security agreements.
- Certain claims and rights, including those related to injuries, sickness, special needs trusts, and state actions, are also excluded from the scope of the security interest laws.
- The law addresses the priority of certain liens and assignments, referencing other sections of the Arizona Revised Statutes.
- The bill clarifies the application of security interest laws in relation to United States law and foreign governmental units.
Who is affected
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