WHAT ARE THE FINANCIAL RIGHTS OF THE MEMBERS OF THE BOARD?
1- WHAT ARE THE FINANCIAL RIGHTS OF THE MEMBERS OF THE BOARD?
To the members of the board, on the condition that the amount is decided according to the agreement or to the decision of the members of the board
1.1– Per Diem,
1.2- Price
1.3- Premium,
1.4- Bounty
1.5- Annuity
can be paid
2- WHAT ARE THE PROHIBITED TRANSACTIONS FOR THE MEMBERS OF THE BOARD?
The prohibition to be in debt of the company,
2.1- The member of the board cannot transact without the permission of the board, otherwise; company can argue that transaction is void. The other side cannot deny that.
2.2- The board members who don’t have a part in shares, and the kin of the board members, cannot be in debt to the company according to the Turkish Trade Law Article Number 339.
Company cannot take over the debts of those people and cannot guarantee them or be in charge of them
2.3- On the condition that Turkish Trade Law article number 202 is reserved, the companies that become a part of enterprise system, can guarantee and vouch for each other.
***Special provisions of the Banking Law are reserved.
Source: Turkish Trade Law
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