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https://usa-recht.de/2010/02/18/usa-und-die-haftung-von-directors-officers-eine-aktuelle-diskussion/
Though corporate officers owe the same fiduciary obligations as directors, they do not benefit from the full spectrum of statutory and common law liability protections available to directors, as the Delaware Supreme Court recently acknowledged in Gantler v. Stephens, 965 A.2d 695 (Del. 2009). This is not surprising, nor is it unwarranted, given ...
https://racohenlawfirm.com/california-corporate-officers-your-business-judgment-wont-spare-you-from-an-actual-judgment/
Natomas Co. (1989) 208 Cal.App.3d 1250. California corporate officers must be cognizant that they have exposure for their corporate decisions because they are not protected by the business judgment rule. Prudent and thoughtful decision-making is one way for officers to protect themselves, but so too is a comprehensive Directors’ and Officers ...
https://www.bc-llp.com/lawsuit-against-officers-or-directors-of-a-corporation/
In California, officers and directors of corporations are given principal authority over the primary affairs of the corporation. By law, officers and directors owe certain fiduciary duties, both to the shareholders of the corporation, and to the corporation itself. When an officer or director breaches these duties, or engages in other intentional wrongful conduct such as …
https://www.calcorporatelaw.com/2013/06/when-officers-must-indemnify-the-corporation
When Officers Must Indemnify The Corporation. Posted on June 07, 2013 by Keith Paul Bishop. Much attention is focused on the power of corporations to indemnify corporate officers and other agents. In California, this is addressed by Corporations Code Section 317, which establishes the power to provide indemnification, and Section 204 (a) (11) which allows corporations to …
https://www.morganlewis.com/pubs/2012/01/california-business-judgment-rule-does-not-shield-corporate-officers-from-personal-liability
1 Section 2115 of the California General Corporation Law requires foreign corporations to comply with specified California corporate law provisions (including, among others, Section 309(a)) if certain property, payroll and sales thresholds are exceeded.. 2 See Gantler v. Stephens, 965 A.2d 695 (Del.Supr. 2009).Though the court did not expressly hold …
https://www.sandiegobusinesslawyerblog.com/fiduciary-duties-of-officers-a/
There are two components to the Business Judgment Rule: (1) the rule protects officers and directors from personal liability as long as they are acting in accordance with the statutory requirements of California Corporations Code section 309; and (2) the rule precludes a court from intervening with management decisions that are made by directors in good faith …
https://edd.ca.gov/siteassets/files/pdf_pub_ctr/de231pc.pdf
whether payments to corporate offcers constitute loans or wages. 1. A corporate offcer loaned money to the corporation. The corporate offcer raised the money through personal loans from banks. The pre-incorporation agreement called for the corporation to assume the liability owed the corporate offcer. The corporation’s
https://callaborlawblog.com/common-california-labor-code-violations/shareholders-corporate-officers-personally-liable-unpaid-wages/
Analogously, Boucher v. Shaw (9th Cir. 2009), the Ninth Circuit has found that CEO, CFO and other managers of a bankrupt corporation who were the only shareholders could be held liable for the corporation’s failure to pay wages, vacation and holiday pay, because the officers had “control and custody of the plaintiff class, their employment ...
https://danashultz.com/2013/09/06/required-officers-california-corporations-are-unique/
Among the states, California law is unique in its set of required officers. California Corporations Code Section 312 (a) states that each California corporation must have: A chairman of the board or a president or both; A secretary; and. A …
https://burfordperry.com/can-a-corporate-officers-and-directors-be-held-personally-liable/
For example, if a corporate officer takes out a loan in the company’s name and the corporation defaults on that loan, the lender cannot file suit against the officer individually to recover the loss. The lender would only be able to recover the loss from the company’s assets. Even if an officer or director induces the corporation to violate ...
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