Arizona Laws 41-4041. Consumer recovery fund
A. The consumer recovery fund is established. The director shall administer the fund.
Terms Used In Arizona Laws 41-4041
- Consumer: means either a purchaser or seller of a unit regulated by this chapter who uses the services of a person licensed by the department. See Arizona Laws 41-4001
- Contract: A legal written agreement that becomes binding when signed.
- Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
- Director: means the director of the department. See Arizona Laws 41-4001
- including: means not limited to and is not a term of exclusion. See Arizona Laws 1-215
- Property: includes both real and personal property. See Arizona Laws 1-215
B. On notice from the director, the state treasurer shall invest and divest monies in the fund as provided by section 35-313, and monies earned from investment shall be credited to the fund.
C. The monies earned from investment may be used for the same purposes as all other monies deposited in the fund.
D. Recovery from the consumer recovery fund is limited to actual or compensatory damages, including costs but excluding interest or attorney fees.
E. Recovery from the consumer recovery fund is not limited by the consumer’s right, if any, to also claim against a holder of a retail sales contract or promissory note that is secured by the property that is the subject matter of the claim.