Bill Text: AZ HB2091 | 2019 | Fifty-fourth Legislature 1st Regular | Introduced

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Bill Title: Technical correction; indemnification; insurance

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced - Dead) 2019-05-08 - Assigned to House RULES Committee [HB2091 Detail]

Download: Arizona-2019-HB2091-Introduced.html

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REFERENCE TITLE: technical correction; indemnification; insurance

 

 

 

 

State of Arizona

House of Representatives

Fifty-fourth Legislature

First Regular Session

2019

 

 

HB 2091

 

Introduced by

Representative Cobb

 

 

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:

START_STATUTE10-857.  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. END_STATUTE