imported post
Generally as long as the holster is visible it is considered open carry so you should be fine. Below is the actual wording which technically does specify "belt holster" but I would argue that your holster is still attached to your belt - it just hangs down a bit lower than usual & is also tied to your leg to keep it secure - my guess is you'd be fine:
http://www.azleg.state.az.us/ars/13/03102.htm
13-3102.
Misconduct involving weapons; defenses; classification; definitions
A. A person commits misconduct involving weapons by knowingly:
1. Carrying a deadly weapon without a permit pursuant to section 13-3112 except a pocket knife concealed on his person; or
2. Carrying a deadly weapon without a permit pursuant to section 13-3112 concealed within immediate control of any person in or on a means of transportation; or
. . .
F. Subsection A, paragraph 1 of this section shall not apply to a weapon or weapons carried in a belt holster which holster is wholly or partially visible, or carried in a scabbard or case designed for carrying weapons which scabbard or case is wholly or partially visible or carried in luggage. Subsection A, paragraph 2 of this section shall not apply to a weapon or weapons carried in a case, holster, scabbard, pack or luggage that is carried within a means of transportation or within a storage compartment, map pocket, trunk or glove compartment of a means of transportation.