HB 2152 Summary

• Amends Arizona Revised Statutes Section 32-1132 to modify eligibility requirements for the residential contractors' recovery fund administered by the registrar.

• Changes limited liability company eligibility from requiring "all" members to requiring "at least one" member to actually occupy or intend to occupy the damaged residential property as primary residence.

• Removes the two-year restriction that previously prohibited limited liability company members and trust trustors from receiving fund monies if they had received payments within the previous two years.

• Applies retroactively to all residential contractors' recovery fund claims submitted to the registrar from December 31, 2020 forward.