§ 1.7.5 CORPORATE

• Jurisdiction: Arizona

§ 1.7.5 CorporateStatutory Indemnification. Every state today has statutes based on the MBCA, or various revised versions of the MBCA, that identify and define a corporation's indemnification rights and duties. In order to determine what those rights and duties are, it is necessary to first determine which state law applies. Generally, the law of the state in which a company is incorporated governs internal corporate affairs.¹⁸ Because many corporations incorporate in Delaware, its indemnification statutes control in many cases.¹⁹ Some states, however, have...