The Arizona Revised Statutes have been updated to include the revised sections from the 57th Legislature, 2nd Regular Session. Please note that the next update of this compilation will not take place until after the conclusion of the 58th Legislature, 1st Regular Session, which convenes in January 2027.
DISCLAIMER
This online version of the Arizona Revised Statutes is primarily maintained for legislative drafting purposes and reflects the version of law that is effective on January 1st of the year following the most recent legislative session. The official version of the Arizona Revised Statutes is published by Thomson Reuters.
A. A subordination agreement is enforceable under this chapter to the same extent the agreement is enforceable under other law.
B. Subject to subsection C of this section, the following claims are subordinate to a claim or interest that is senior or equal in priority to a claim or interest represented by a security or other equity interest in the assignor or an affiliate of the assignor:
1. A claim arising from rescission of a purchase or sale of the security or other equity interest.
2. A claim for damages arising from the purchase or sale of the security or other equity interest.
3. A claim for reimbursement or contribution allowed on account of the rescission or damage claim.
C. If the security is common stock or another common equity interest, a claim subject to subordination under subsection B of this section has the same priority as common stock or another common equity interest.