Corporate Law
Q. What are the roles and responsibilities of the board of directors?
A.
The board makes key decisions and supervises directors. Directors owe duties of care and loyalty.
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The board decides business execution, supervises directors, and selects/removes representative directors (Art. 362). Directors owe duty of care (Art. 330) and loyalty (Art. 355). Liable for damages from negligence (Art. 423). Business judgment rule applies.
This article provides general legal information and does not constitute legal advice. For specific legal issues, please consult with a qualified attorney.
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