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A.R.S. § 44-305

Dormancy charge

Applied in 2 court decisions — leading case Glessner v. Massey-Ferguson, Inc. (1965)

Most recently applied in RCA Corp. v. Altschul (February 1972)

A holder, except an agency of this state, may deduct from property presumed abandoned a charge imposed by reason of the owner's failure to claim the property within a specified time if there is a valid and enforceable written contract between the holder and the owner under which the holder may impose the charge and the holder regularly imposes the charge and the charge is not regularly reversed or otherwise canceled. The amount of the deduction is limited to an amount that is not unconscionable.

Official source: Arizona State Legislature. Reproduced from public-domain Arizona statutes; confirm against the official source for the current text. Not legal advice.