Arizona Laws 12-1159. Action to recover award paid to wrong person
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If an award is paid to a person not entitled thereto, the sole recourse of the person entitled to the award is against the person to whom it has been paid. In such event the person entitled to the award may bring an action to recover the award, with interest and costs, as money had and received to his use by the person to whom the award was paid.
Terms Used In Arizona Laws 12-1159
- Action: includes any matter or proceeding in a court, civil or criminal. See Arizona Laws 1-215
- Person: includes a corporation, company, partnership, firm, association or society, as well as a natural person. See Arizona Laws 1-215
- Recourse: An arrangement in which a bank retains, in form or in substance, any credit risk directly or indirectly associated with an asset it has sold (in accordance with generally accepted accounting principles) that exceeds a pro rata share of the bank's claim on the asset. If a bank has no claim on an asset it has sold, then the retention of any credit risk is recourse. Source: FDIC