diff --git a/pandas/core/indexers.py b/pandas/core/indexers.py
index 86d6b772fe2e4..d0a53ec80ce1a 100644
--- a/pandas/core/indexers.py
+++ b/pandas/core/indexers.py
@@ -235,7 +235,7 @@ def validate_indices(indices: np.ndarray, n: int) -> None:
 # Indexer Conversion
 
 
-def maybe_convert_indices(indices, n: int):
+def maybe_convert_indices(indices, n: int, verify: bool = True):
     """
     Attempt to convert indices into valid, positive indices.
 
@@ -248,6 +248,8 @@ def maybe_convert_indices(indices, n: int):
         Array of indices that we are to convert.
     n : int
         Number of elements in the array that we are indexing.
+    verify : bool, default True
+        Check that all entries are between 0 and n - 1, inclusive.
 
     Returns
     -------
@@ -273,9 +275,10 @@ def maybe_convert_indices(indices, n: int):
         indices = indices.copy()
         indices[mask] += n
 
-    mask = (indices >= n) | (indices < 0)
-    if mask.any():
-        raise IndexError("indices are out-of-bounds")
+    if verify:
+        mask = (indices >= n) | (indices < 0)
+        if mask.any():
+            raise IndexError("indices are out-of-bounds")
     return indices
 
 
diff --git a/pandas/core/internals/array_manager.py b/pandas/core/internals/array_manager.py
index 5987fdf956b68..f8df140e6bf9e 100644
--- a/pandas/core/internals/array_manager.py
+++ b/pandas/core/internals/array_manager.py
@@ -1021,7 +1021,7 @@ def _reindex_indexer(
 
         return type(self)(new_arrays, new_axes, verify_integrity=False)
 
-    def take(self, indexer, axis: int = 1, verify: bool = True, convert: bool = True):
+    def take(self: T, indexer, axis: int = 1, verify: bool = True) -> T:
         """
         Take items along any axis.
         """
@@ -1034,12 +1034,7 @@ def take(self, indexer, axis: int = 1, verify: bool = True, convert: bool = True
         )
 
         n = self.shape_proper[axis]
-        if convert:
-            indexer = maybe_convert_indices(indexer, n)
-
-        if verify:
-            if ((indexer == -1) | (indexer >= n)).any():
-                raise Exception("Indices must be nonzero and less than the axis length")
+        indexer = maybe_convert_indices(indexer, n, verify=verify)
 
         new_labels = self._axes[axis].take(indexer)
         return self._reindex_indexer(
diff --git a/pandas/core/internals/managers.py b/pandas/core/internals/managers.py
index 6bd3e37ae101e..9c21fcf957ecd 100644
--- a/pandas/core/internals/managers.py
+++ b/pandas/core/internals/managers.py
@@ -1491,10 +1491,21 @@ def _make_na_block(self, placement, fill_value=None):
         block_values.fill(fill_value)
         return new_block(block_values, placement=placement, ndim=block_values.ndim)
 
-    def take(self, indexer, axis: int = 1, verify: bool = True, convert: bool = True):
+    def take(self: T, indexer, axis: int = 1, verify: bool = True) -> T:
         """
         Take items along any axis.
+
+        indexer : np.ndarray or slice
+        axis : int, default 1
+        verify : bool, default True
+            Check that all entries are between 0 and len(self) - 1, inclusive.
+            Pass verify=False if this check has been done by the caller.
+
+        Returns
+        -------
+        BlockManager
         """
+        # We have 6 tests that get here with a slice
         indexer = (
             np.arange(indexer.start, indexer.stop, indexer.step, dtype="int64")
             if isinstance(indexer, slice)
@@ -1502,12 +1513,7 @@ def take(self, indexer, axis: int = 1, verify: bool = True, convert: bool = True
         )
 
         n = self.shape[axis]
-        if convert:
-            indexer = maybe_convert_indices(indexer, n)
-
-        if verify:
-            if ((indexer == -1) | (indexer >= n)).any():
-                raise Exception("Indices must be nonzero and less than the axis length")
+        indexer = maybe_convert_indices(indexer, n, verify=verify)
 
         new_labels = self.axes[axis].take(indexer)
         return self.reindex_indexer(