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REFERENCE TITLE: technical correction; indemnification; insurance |
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State of Arizona House of Representatives Fifty-fourth Legislature First Regular Session 2019
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HB 2091 |
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Introduced by Representative Cobb
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AN ACT
amending section 10-857, Arizona Revised Statutes; relating to indemnification.
(TEXT OF BILL BEGINS ON NEXT PAGE)
Be it enacted by the Legislature of the State of Arizona:
Section 1. Section 10-857, Arizona Revised Statutes, is amended to read:
10-857. Insurance
A corporation may purchase and
maintain insurance, including retrospectively rated and self‑insured
programs, on behalf of an individual who is or was a director or officer of the
corporation or who, while a director or officer of the corporation, is or was
serving at the request of the corporation as a director, officer, partner, trustee,
employee or agent of another foreign or domestic corporation, partnership,
joint venture, trust, employee benefit plan or other
entity, against liability asserted against or incurred by the individual in
that capacity or arising from the individual's status as a director or officer,
whether or not the corporation would have power to indemnify or advance
expenses to the individual against the same liability under this article.