6-395.08. Rejection of contracts and leases on liquidation
101 words·~1 min read·
/az/title-6/6-395-08A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
The receiver may at his election reject any executory contract to which the bank is a party or any obligation of the bank as a lessee of real or personal property. The claim of a lessor for damages for injury resulting from the rejection of an unexpired lease of real property or for damages or indemnity under a covenant in such lease shall in no event be allowed in any amount exceeding the rent reserved by the lease, without acceleration, for six months after the date of surrender or reentry, plus the amount of the unpaid rent accrued to such date.