LEGISLATIVE DIRECTORY I
LexInter | October 29, 2002 | 0 Comments

LEGISLATIVE DIRECTORY I

Art. L. 225-22. – An employee of the company can only be appointed director if his employment contract is at least two years prior to his appointment and corresponds to an actual job. He does not lose the benefit of this employment contract. Any appointment made in violation of the provisions of this paragraph is void. This nullity does not entail that of the deliberations in which the improperly appointed administrator took part.
The number of directors linked to the company by an employment contract may not exceed one third of the directors in office.
However, the directors elected by the employees, the directors representing the employee shareholders or the company mutual fund in application of Article L. 225-23 and, in public limited companies with worker participation, the representatives of the company labor cooperative are not counted for the determination of the number of directors bound to the company by an employment contract mentioned in the previous paragraph.
In the event of a merger or split, the employment contract may have been concluded with one of the merged companies or with the split company.

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