AZ HB2325

Amends section 48-3774 of Arizona Revised Statutes to establish conditions under which real property previously accepted as member land can terminate its member land status.

Real property loses member land status only if no lots or parcels have been sold or leased to retail purchasers, the state real estate commissioner has not issued a public report, and recorded lot or parcel boundaries have been vacated.

Requires the property owner to record a declaration executed by both the district and the director of water resources that revokes previously recorded covenants, conditions and restrictions related to member land status.

Requires mutual agreement between the district and municipal provider to revoke the previously recorded agreement, with the municipal provider recording notice of revocation in county official records.

If a certificate of assured water supply has been issued by the department of water resources, the director must revoke it pursuant to a written agreement with the certificate holder.