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A payment is deemed late if it is unpaid fifteen or more days after its due date, unless the declaration, bylaws or rules of the association provide for a longer period. Any monies paid by a member for an unpaid penalty shall be applied first to the principal amount unpaid and then to the interest accrued.
The board shall provide for a reasonable number of persons to speak on each side of an issue. Any portion of a meeting may be closed only if that closed portion of the meeting is limited to consideration of one or more of the following: 1. Legal advice from an attorney for the board or the association.
The Arizona Revised Statutes (ARS) is the name given to the statutory laws in the state of Arizona.
Property § 33-1810. Board of directors; annual audit. Unless any provision in the planned community documents requires an annual audit by a certified public accountant, the board of directors shall provide for an annual financial audit, review or compilation of the association.
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.
Citations to statutes are generally by Section number alone (as with Arizona statutes) or by title and section number (as with the U.S. Code). For example, A.R.S. §13-3905 refers to Section 13-3905 of the Arizona Revised Statutes Annotated.