Coming from a North Carolina perspective, you would be legal, since you could legally own a handgun and possess it, and there are no further laws/regulations attached to OC. In AZ, you would need to know if you could legally possess it, and if there are any statutes relating to carry and/or open carry that may prohibit you from carrying. You also need to make sure you know your rights, and hopefully someone with significant knowledge of AZ laws can help you.
You should probably be prepared to do most of the legal research on your own. That's the best way to gain knowledge anyway.