AZ SB1293

Amends Arizona Revised Statutes section 33-1241 regarding organization of 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 distribution proceeds.

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