DecisionDepot
California legal research

Arizona Arizona Revised Statutes

§ 6-395.08 — Rejection of contracts and leases on liquidation

ARS § 6-395.08Title 6. Banks and Financial Institutions · Ch. 2. BANK ORGANIZATION AND REGULATION · Art. 13. Liquidation and Dissolution

Statute text

View on source
6-395.08. Rejection of contracts and leases on liquidation The receiver may at his election reject any executory contract to which the bank is a party or any obligation of the bank as a lessee of real or personal property. The claim of a lessor for damages for injury resulting from the rejection of an unexpired lease of real property or for damages or indemnity under a covenant in such lease shall in no event be allowed in any amount exceeding the rent reserved by the lease, without acceleration, for six months after the date of surrender or reentry, plus the amount of the unpaid rent accrued to such date.

Source: Arizona Arizona Revised Statutes § 6-395.08 from the Arizona Revised Statutes (Arizona State Legislature) (public record). DecisionDepot is for informational use only and is not legal advice — verify against the official source before relying on this text.