Arizona Arizona Revised Statutes

§ 10-3856 — Indemnification of officers

ARS § 10-3856Title 10. Corporations and Associations · Ch. 31. DIRECTORS AND OFFICERS-NONPROFIT CORPORATIONS · Art. 5. Indemnification

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10-3856. Indemnification of officers A. A corporation may indemnify and advance expenses under this article to an officer of the corporation who is a party to a proceeding because the individual is or was an officer of the corporation as follows: 1. To the same extent as a director. 2. If the individual is an officer but not a director, to the further extent as may be provided by the articles of incorporation, the bylaws, a resolution of the board of directors, or contract except for:

(a)Liability in connection with a proceeding by or in the right of the corporation other than for reasonable expenses incurred in connection with the proceeding.

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