The non-competition obligation of the administrator in regulating company law and the Civil Code Cover Image

Obligaţia de non-concurenţă a administratorului în reglementarea legii societăţilor şi a Codului civil
The non-competition obligation of the administrator in regulating company law and the Civil Code

Author(s): Carmen Todică
Subject(s): Civil Law
Published by: Editura Hamangiu S.R.L.
Keywords: Fidelity; non-competition; administrator; resignation; revocability;

Summary/Abstract: The professional ethics of the manager as the Companies Law force the manager to abstain from participating to a number of activities that can create suspicion and uncertainty regarding the person or the tasks that the management imply for the duration of the mandate.The manager's loyalty to the company implies the obligation of non-competition and the pursuit of the company's interests. The latter, as a result of the legislative changes (through OUG No. 82/2007), was regulated in art. 1441 par. 4 in the form of a loyalty to society. Under this obligation, "the members of the board of directors shall exercise their mandate with loyalty, in the interest of society". Although the text is intended by the Board of Directors, the obligation also applies to directors, board members and board of directors in the dual system of management of the joint stock company, but also to any manager of any other form of company. As regards the non-competition obligation, it finds a differentiated regulation in the body of the Society Law.

  • Issue Year: I/2013
  • Issue No: I
  • Page Range: 415-423
  • Page Count: 9
  • Language: Romanian
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