FAMILY PROHIBITIONS IN THE FIELD OF COMPANY ADMINISTRATION REGULATED BY LAW NO. 31/1990 AND THE CIVIL CODE
FAMILY PROHIBITIONS IN THE FIELD OF COMPANY ADMINISTRATION REGULATED BY LAW NO. 31/1990 AND THE CIVIL CODE

Summary/Abstract: The administrator, in general, has full decision making power for all management operations. However, certain legal acts of disposition, of a special importance for the patrimony of the company in which the administrator or his family members may be involved, can be concluded only with the approval of the general assembly of the associates. At the same time, whenever there is a conflict of interest between the administrator and the company, the administrator must act only in its favor and not in its own interest or in the interest of a family member. Law no. 31/190 establishes two interdictions, which we called family, in the context in which in a certain operation, the administrator would have interests contrary to the company, being involved his husband, a relative or a relative up to to grade IV inclusive. The two prohibitions are also regulated in the Civil Code under the generic title "contradictions of interests".

• Details
• Contents