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Arizona Arizona Revised Statutes

§ 10-3851 — Authority to indemnify

ARS § 10-3851Title 10. Corporations and Associations · Ch. 31. DIRECTORS AND OFFICERS-NONPROFIT CORPORATIONS · Art. 5. Indemnification

Statute text

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10-3851. Authority to indemnify A. Except as provided in subsection D of this section, a corporation may indemnify an individual made a party to a proceeding because either: 1. The individual is or was a director against liability incurred in the proceeding if all of the following conditions exist:
(a)The individual's conduct was in good faith.
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Source: Arizona Arizona Revised Statutes § 10-3851 from the Arizona Revised Statutes (Arizona State Legislature) (public record). DecisionDepot is for informational use only and is not legal advice — verify against the official source before relying on this text.