ARS § 48-5544

If a lessee fails to pay rent, the board of directors may cancel the lease. If there is no lease or the lease is cancelled and the facility cannot be re-leased on required terms, the board must hold at least annual public auctions, lease to the highest rental bidder, and publish auction notice weekly for four weeks bef

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Jurisdiction: United States — Arizona
Instrument: Act or statute
Version: Undated source snapshot
Language: en
Updated: 1 Jan 2025
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auction notice lease cancellation rental payment

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48-5544
ARS § 48-5544
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AI-assisted research summary: If a lessee fails to pay rent, the board of directors may cancel the lease. If there is no lease or the lease is cancelled and the facility cannot be re-leased on required terms, the board must hold at least annual public auctions, lease to the highest rental bidder, and publish auction notice weekly for four weeks before the auction.

48-5544 - Cancellation of lease for failure to pay rent; authority to lease again; auction 48-5544 . Cancellation of lease for failure to pay rent; authority to lease again; auction A. If a lessee of the hospital, freestanding urgent care center, medical clinic or nursing care institution and their equipment fails to make the payment of rental required by the lease, the board of directors, at its option, may cancel the lease for the failure. B. If there is no lease or the lease is cancelled and the board of directors is unable to again lease the hospital, freestanding urgent care center, medical clinic or nursing care institution and their equipment to a lessee qualified under this article at a rent that is sufficient to provide a fair return to the district, the board of directors shall: 1. At least annually at public auction, offer to lease the hospital, freestanding urgent care center, medical clinic or nursing care institution and their equipment to the highest responsible and qualified bidder for such term as the board of directors prescribes. 2. Lease the hospital, freestanding urgent care center, medical clinic or nursing care institution and their equipment to the bidder who bids the highest rental for the prescribed period. C. Notice of the auction shall be given in a newspaper of general circulation in the district at least once each week for four weeks immediately preceding the auction.

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ARS § 48-5544

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