Arizona Revised Statutes Title 44. Trade and Commerce § 44-1008. Defenses, liability and protection of transferee

A. A transfer or obligation is not voidable under § 44-1004, subsection A, paragraph 1 against a person who took in good faith and for a reasonably equivalent value or against any subsequent transferee or obligee.

B. Except as otherwise provided in this section, to the extent a transfer is voidable in an action by a creditor under § 44-1007, subsection A, paragraph 1,  1 the creditor may recover judgment for the value of the asset transferred, as adjusted under subsection C of this section, or the amount necessary to satisfy the creditor's claim, whichever is less. The judgment may be entered against either:

C. If the judgment under subsection B of this section is based on the value of the asset transferred, the judgment must be for an amount equal to the value of the asset at the time of the transfer, subject to adjustment as the equities may require.

D. Notwithstanding voidability of a transfer or an obligation under this article, a good faith transferee or obligee is entitled, to the extent of the value given the debtor for the transfer or obligation, to any of the following:

E. A transfer is not voidable under § 44-1004, subsection A, paragraph 2 or § 44-1005 if the transfer results from: