Arizona § 20-832 - Limitation on salaries
Full text of Arizona Arizona Revised Statutes § 20-832 — Limitation on salaries, with citation guidance and answers to common questions.
§ 20-832. Limitation on salaries
A corporation shall not:
1. Pay to any officer of the corporation any salary, compensation or emolument amounting in any year to more than $5,000, unless the board of directors of the corporation first authorizes the salary, compensation or emolument.
2. Make any agreement with any officer whereby the corporation agrees that for any services rendered or to be rendered the officer will receive a salary, compensation or emolument for a period of more than three years from the date of the agreement.
3. Pay any bonus, commission or dividend to any director of the corporation.
Source: official Arizona text · Last verified 2026-08-27
Frequently Asked Questions About Arizona § 20-832
What does Arizona Revised Statutes § 20-832 cover?
Section 20-832 ("Limitation on salaries") 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 § 20-832?
A common citation format is "Arizona Revised Statutes § 20-832" (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 § 20-832 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.