AZ HB2063

Amends Arizona Revised Statutes section 33-1241 regarding unit owners' associations in condominiums.

Requires a unit owners' association to be organized no later than the date the first unit in the condominium is initially conveyed.

Specifies that association membership shall consist exclusively of all unit owners or, following condominium termination, all former unit owners entitled to distributions of proceeds under section 33-1228.

Allows the association to be organized as a profit corporation, nonprofit corporation, or unincorporated association.