44-6706. Repurchase; title; security interest
66 words·~1 min read·
/az/title-44/44-6706A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Upon payment of the repurchase amount to the equipment dealer, the title and right to possession of the repurchased inventory shall transfer or be transferred to the supplier and the equipment dealer shall have a continuing perfected security interest in the inventory until payment by the supplier. The security interest shall be perfected without the filing of a financing statement for a period of six years.