Arizona Laws 33-1130. Tools and equipment used in a commercial activity, trade, business or profession
The following tools and equipment of a debtor used in a commercial activity, trade, business or profession shall be exempt from process:
Terms Used In Arizona Laws 33-1130
- Debtor: means an individual whether married or single utilizing property described in this article for personal, family or household use. See Arizona Laws 33-1121
- Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
- including: means not limited to and is not a term of exclusion. See Arizona Laws 1-215
- Process: means execution, attachment, garnishment, replevin, sale or any final process issued from any court or any other judicial remedy provided for collection of debts. See Arizona Laws 33-1121
1. The tools, equipment, instruments and books, including telephone numbers, client or customer contact information, or marketing tools, such as websites, domain names or any other intangible work product, in the possession of a debtor or the spouse of a debtor primarily used in, and necessary to carry on or develop, the commercial activity, trade, business or profession of the debtor or the debtor’s spouse, not in excess of an aggregate fair market value of five thousand dollars. For the purpose of this paragraph, tools do not include a motor vehicle primarily used by a debtor for personal, family or household purposes such as transportation to and from the debtor’s place of employment.
2. Farm machinery, utensils, implements of husbandry, feed, seed, grain and animals not in excess of an aggregate value of two thousand five hundred dollars belonging to a debtor whose primary income is derived from farming.
3. All arms, uniforms and accoutrements required by law to be kept by a debtor.