If a member on board of directors for two seperate corporations can that member vote for contract approval???

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If a member on board of directors for two seperate corporations can that member vote for contract approval???

Or anything in regards to that company he also has interests in?

2007-08-15 17:47:15 · 2 answers · asked by Dominica B 2 in Politics & Government ➔ Law & Ethics

2 answers

The vote is valid when the two corporations have no conflicting business ventures and when it is allowed by the laws on corporations in your country.

2007-08-15 18:38:01 · answer #1 · answered by FRAGINAL, JTM 7 · 0⤊ 0⤋

If you are talking about a contract involving both companies? If so, that is called "self-dealing." You are required to disclose your relationship and the disinterested directors must approve.

2007-08-16 01:41:24 · answer #2 · answered by Top 99% 3 · 0⤊ 0⤋