Arizona § 33-1051 - Definitions
Full text of Arizona Arizona Revised Statutes § 33-1051 — Definitions, with citation guidance and answers to common questions.
§ 33-1051. Definitions
In this article, unless the context otherwise requires:
1. "Bonded stop notice" means a stop notice that is given to any construction lender and that is accompanied by a bond executed solely by one or more surety companies authorized to transact surety business in this state pursuant to title 20, chapter 2, article 1 in an amount equal to one hundred fifty per cent of the amount of the claim on the condition that if the owner, original contractor or construction lender recovers judgment in an action brought on a verified claim or on the lien filed by the claimant, the claimant would have sufficient monies to pay all costs and damages that the owner, original contractor or construction lender may sustain by reason of the stop notice claim or the lien, not exceeding the amount specified in the bond.
2. "Construction lender" means any mortgagee or beneficiary under a deed of trust lending funds all or a portion of which defray the cost of the construction, alteration, repair or improvement or any assignee or successor in interest of either, or any escrow holder or other party holding any monies furnished or to be furnished by the owner or any other person as a source from which to pay construction costs.
3. "Original contractor" means any contractor who has a direct contractual relationship with the owner.
4. "Stop notice" means a written notice that is signed and verified by the claimant or its agent and that states in general terms all of the following:
(a) A description of the labor, professional services, materials, machinery, fixtures or tools furnished or agreed to be furnished by the claimant.
(b) The name of the person to or for whom the labor, professional services, materials, machinery, fixtures or tools were furnished or agreed to be furnished.
(c) The amount in value of the labor, professional services, materials, machinery, fixtures or tools already furnished and the total amount agreed to be furnished.
(d) The amount, if any, of payment received by the claimant for the labor, professional services, materials, machinery, fixtures or tools furnished or agreed to be furnished.
(e) The name and address of the claimant.
Frequently Asked Questions About Arizona § 33-1051
What does Arizona Revised Statutes § 33-1051 cover?
Section 33-1051 ("Definitions") is part of the Arizona Revised Statutes, the codified statutory law of Arizona. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Arizona § 33-1051?
A common citation format is "Arizona Revised Statutes § 33-1051" (Arizona). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Arizona law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Arizona official source linked on this page or consult a licensed Arizona attorney.
How does Arizona § 33-1051 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Arizona can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Arizona.