The Arizona Revised Statutes have been updated to include the revised sections from the 53rd Legislature, 2nd Regular Session. Please note that the next update of this compilation will not take place until after the conclusion of the 54th Legislature, 1st Regular Session, which convenes in January 2019.
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.
33-747 - Appointment of successor account servicing agent
33-747. Appointment of successor account servicing agent
A. If a person appointed as account servicing agent fails to qualify or is unwilling or unable to serve, the seller may appoint a successor account servicing agent, and the appointment constitutes a substitution of account servicing agent.
B. The seller may at any time remove an account servicing agent for any reason and appoint a successor account servicing agent, and the appointment constitutes a substitution of account servicing agent.
C. A substitution of an account servicing agent shall be made by written notice, personally delivered or mailed in the United States mail, first class, postage prepaid, to the purchaser, the account servicing agent and the successor account servicing agent and by recording a copy of the notice with the county recorder of the county in which the real property is located.
D. A notice of substitution of account servicing agent shall be substantially in the following form:
"Notice of Substitution of Account Servicing Agent
The undersigned seller hereby appoints:
_________________________________________________________________________ _________________________________________________________________________ _________________________________________________________________________ successor account servicing agent under that certain contract, by and between _______________, as seller, and _______________, as purchaser, dated _______________, 19____, and recorded (if recorded) on _______________, 19____, in docket __________, at page __________, records of _______________ county, Arizona, covering real property described as follows:
and including personal property described as follows:
Dated this _______________ day of _______________, 19____.