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April 2020 Archives

Can you hold corporate officers accountable for breaches of duty?

There are many different options to choose from when you set out to incorporate your business. One requirement that you must meet if you select most of these structures is that you have to either appoint a board of directors or officers for it. Those individuals that you appoint to these roles have some very important responsibilities. One of those is a duty of loyalty. Your corporation's officers or directors may face significant penalties if they breach this duty.

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