AZ HB2450

Amends Arizona Revised Statutes section 32-2151 regarding real estate broker trust accounts and disposition of funds entrusted to brokers.

Allows brokers to avoid immediate placement of funds in neutral escrow if they place monies in a federally insured trust fund account with branches located in Arizona, unless parties agree otherwise in writing.

Exempts trust accounts from certain regulations under sections 10-401(A)(3) and 10-1506(A)(3) if a party's legal name includes the word "trust."

Requires brokers to maintain detailed records including receipts, disbursement journals, client ledgers, and monthly bank reconciliations; permits deposit of up to $3,000 in broker's personal funds to establish or maintain the account.

Allows out-of-state depository agreements only with written consent of all parties, and requires specific disclosures about regulatory limitations and account access restrictions.