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Directors and Officers Certainly Do Not Get Off Scott-Free, But Ought We Cut Them a Little Slack?
| Content Provider | Semantic Scholar |
|---|---|
| Author | Howes, Holly D. |
| Copyright Year | 2015 |
| Abstract | A corporation is defined as “[a]n entity having authority under law to act as a single person distinct from the shareholders who own it . . . .”2 It has directors. It has officers. It has creditors. And it has shareholders or, minimally, one shareholder. Suppose a corporation has a single shareholder, and that shareholder is a corporation itself with its own directors, officers, creditors, and shareholders. Imagine a chain of corporations where each has a single, corporate shareholder. Now find a man and put him as an officer of this corporation that has another single, corporate shareholder. Tell this man he is a fiduciary.3 Tell him he is in charge of an entity “distinct from the shareholder[ ] who own[s] it.”4 But be sure to remind him the shareholders of the parent company control his fate. Be sure to inform this man that although he has authority under the law to control the corporation as a |
| Starting Page | 163 |
| Ending Page | 163 |
| Page Count | 1 |
| File Format | PDF HTM / HTML |
| Volume Number | 6 |
| Alternate Webpage(s) | https://via.library.depaul.edu/cgi/viewcontent.cgi?article=1142&context=bclj&httpsredir=1&referer= |
| Language | English |
| Access Restriction | Open |
| Content Type | Text |
| Resource Type | Article |
