Arizona Laws 23-748. Effect upon lien of transfer of assets by delinquent
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The transfer, through sale, exchange or otherwise, of a major portion of the assets of a delinquent employer shall not defeat or impair the lien in favor of the commission, and the person acquiring the assets shall be liable for payment of all delinquent contributions, interest or penalties owed by his predecessor in interest. In an action involving title to real or personal property against which the commission has or may claim a lien, the commission shall be made a party.
Terms Used In Arizona Laws 23-748
- Action: includes any matter or proceeding in a court, civil or criminal. See Arizona Laws 1-215
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Lien: A claim against real or personal property in satisfaction of a debt.
- Person: includes a corporation, company, partnership, firm, association or society, as well as a natural person. See Arizona Laws 1-215