What duties a member of the Board of Directors has if he realizes there is a conflict of interest with his company? What legal consequences shall his action have in a conflict of interest?
2014
Abstract
Firstly, the author has divided conflicts of interest to two categories - common conflict of interests and specific conflict of interests. Secondly, the author describes in detail the obligations of the member of the Board of Directors.
The conclusion of the article contains description of legal consequences of action in a conflict of interest not only for the member of the Board of Directors but for the company too.