Arizona § 10-854 - Court ordered indemnification
Full text of Arizona Arizona Revised Statutes § 10-854 — Court ordered indemnification, with citation guidance and answers to common questions.
§ 10-854. Court ordered indemnification
Unless a corporation's articles of incorporation provide otherwise, a director of the corporation who is a party to a proceeding may apply for indemnification or an advance for expenses to the court conducting the proceeding or to another court of competent jurisdiction. On receipt of an application, the court after giving any notice the court considers necessary may order indemnification or advance for expenses if it determines either:
1. The director is entitled to mandatory indemnification under section 10-852, in which case the court shall also order the corporation to pay the director's reasonable expenses incurred to obtain court ordered indemnification.
2. The director is fairly and reasonably entitled to indemnification in view of all of the relevant circumstances, whether or not the director met the standard of conduct set forth in section 10-851 or was adjudged liable as described in section 10-851, subsection D, but if the director was adjudged liable under section 10-851, subsection D, indemnification is limited to reasonable expenses incurred.
Frequently Asked Questions About Arizona § 10-854
What does Arizona Revised Statutes § 10-854 cover?
Section 10-854 ("Court ordered indemnification") is part of the Arizona Revised Statutes, the codified statutory law of Arizona. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Arizona § 10-854?
A common citation format is "Arizona Revised Statutes § 10-854" (Arizona). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Arizona law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Arizona official source linked on this page or consult a licensed Arizona attorney.
How does Arizona § 10-854 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Arizona can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Arizona.