A Director Who Is a Member of the Board That

question 33

True/False

A director who is a member of the board that declares an illegal dividend is not personally liable to the company for the amount that is illegal.

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Definitions:

Technological

Pertaining to technology, which involves the application of scientific knowledge for practical purposes, especially in industry.

Socio-Cultural

Refers to the combination of social and cultural factors that impact individual and community behaviors, norms, and values.

Political Revolution

Political revolution refers to the fundamental and rapid change in political power and political organization, often accompanied by social and cultural shifts.

Individual Rights

Legal principles that recognize and protect the freedoms guaranteed to each person, including freedom of speech, religion, and the pursuit of happiness.