§ 1.7.5.8 RIGHT TO PURCHASE INSURANCE.

• Jurisdiction: Arizona

§ 1.7.5.8 Right to Purchase Insurance. A.R.S. § 10-857 expressly permits corporations to purchase and maintain insurance for indemnifying its officers or directors against liability arising from his or her status as a director or officer of the company, "whether or not the corporation would have power to indemnify or advance expenses to the individual against the same liability" under the statutes.⁶⁰ A corporation may also maintain insurance on behalf of a non-officer employee or agent, neither of whom is subject to indemnification by...