Arizona § 37-444 - Offset against rent due from trust beneficiaries; substituting trust designations
Full text of Arizona Arizona Revised Statutes § 37-444 — Offset against rent due from trust beneficiaries; substituting trust designations, with citation guidance and answers to common questions.
§ 37-444. Offset against rent due from trust beneficiaries; substituting trust designations
A. If a state agency or institution that leases a parcel of trust land is also a beneficiary of that trust, the department may offset trust proceeds to the agency against the rent due from the agency or institution. The amount of the offset shall be included in the agency's or institution's beneficiary account under the trust and shall be recorded by the department and the agency or institution in accordance with generally accepted accounting principles.
B. The commissioner, with the approval of the selection board, may transfer and substitute the designation of trust land parcels between land grant trusts if the parcels have substantially equal value and the substitution would permit an offset under subsection A against the rent due from a state agency or institution that leases one of the parcels.
Source: official Arizona text · Last verified 2026-08-27
Frequently Asked Questions About Arizona § 37-444
What does Arizona Revised Statutes § 37-444 cover?
Section 37-444 ("Offset against rent due from trust beneficiaries; substituting trust designations") 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 § 37-444?
A common citation format is "Arizona Revised Statutes § 37-444" (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 § 37-444 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.