Arizona Laws 10-831. Standards of liability for directors; presumption
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A director is not liable for any action taken as a director or any failure to take any action if the director’s duties were performed in compliance with section 10-830. In any proceeding commenced under this chapter, a director has all of the defenses and presumptions ordinarily available to a director. A director is presumed in all cases to have acted, failed to act or otherwise discharged the director’s duties pursuant to section 10-830. The burden is on the party challenging a director’s action, failure to act or other discharge of duties to establish by clear and convincing evidence facts rebutting the presumption.
Terms Used In Arizona Laws 10-831
- Action: includes any matter or proceeding in a court, civil or criminal. See Arizona Laws 1-215
- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
- Proceeding: includes a civil suit and a criminal, administrative and investigatory action. See Arizona Laws 10-140