Is it possible for someone who is already the partner and a manager of a Limited Company to also be the partner and manager of another company?
(11.12.2018 09:02)
The isn’t any cases against this in the Turkish Commercial Code. However, it is better to get permission in accordance with Article 396 of Turkish Commercial Code.
Turkish Commercial Code Article 396
VII- Prohibition on competition
ARTICLE 396- (1) Any member of the board of directors can not make any transactions related to commercial business about the field of operation of the company neither for themselves nor another person without getting permission from the general board. Furthermore, any member of the board of directors can not enter a business in another company that performs the same type of commercial business in the capacity of partner with unlimited liability. The company is free to claim damages from the members of the board of directors who violate this provision and consider the transaction which was made instead of the damages as they were made in the name of the company and litigate the belonging of the benefits resulting from the agreements made in the name of third parties to the company.
(2) The selection of one of these rights belong to the members except for those who violate the first paragraph.
(3) These rights prescribe within 3 months once the other members find out that the relevant commercial transactions are made and that the member of board of directors switch to another company, and one year under any circumstances
(4) Provisions regarding the liabilities of members of the board of directors are reserved.
Source: İSMMMO
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