Go to Content Area :::

Decisions

Home > Decisions > Docket Search > Before 2022
:::
:::
  • Interpretation
  • No.59
  • Date
  • 1956/03/21
  • Issue
    • Is the suretyship provided by the responsible person of the corporation on its behalf binding to and valid for the company?
  • Holding
    •        According to Article 23 of the Company Act, no company should provide suretyship to anyone except as otherwise prescribed in other laws or in the articles of company. If the responsible person of the corporation violates Article 23 of the Company Act by providing suretyship to others on behalf of the corporation, the conduct of the responsible person is not considered as the conduct of the company under the law. Thus, the company is not liable for the conduct of its responsible person.
      
    • *Translated by Li-Chih Lin, Esq., J.D.
  • Reasoning
    Back Top