The Quarterly Journal of Judicial Law Views

The Quarterly Journal of Judicial Law Views

The Legal effects of corporate directors and managing directors after the expiration of the Term of their Office

Author
Allameh Tabatabaei University
Abstract
The term of office of joint stock corporate directors and managing directors, unlike other companies, is limited to a period of time. However, due to the different legal positions they have, their acts and transactions do not bear similar . In addition, there is also disagreement about the legal effects of directors after the termination of their office. According to one opinion, by having the term of office of corporate terminated, directors acts and transactions do not face any challenges, whereas based on another approach, the qualification and powers of such directors are limited to day to day and non-binding activities.