Abstract:

According to Turkish Law, a bank must be established as a joint stock company art. 7, a of Banking Act (BA). The term “director” refers to members of banks’ board of directors, audit committee, credit committee chairmen and members, general manager, deputy general managers and officials that have a signing authority on behalf of the bank. It is crucial to regulate bank directors’ legal liabilities, which arise from banking operation. he liability of bank managers arise from banking operation have been regulated in two legal source. First of those sources is exclusively art. 110 of BA. According to said article; in case of banks directors’ illegal decisions and operations causing the bank to be transferred to Savings Deposit Insurance Fund (Fund) or the cancellation of the operating license of the bank the directors could be held liable, limited to the damaged caused to the bank and could be declared bankrupt. Second of those sources is Turkish Commercial Law (TCC) art. 553 and so on. With TCC art. 557) differentiated solidarity is brought to the Law as a new principle which finds application area in joint stock companies’. This principle, gives directors the right to use personal reduction causes against the company, shareholders and creditors. The application of these two norms should carefully be analyzed and the borders of bank directors’ legal liabilities should fairly be drawn. In this study, the relationship between differentiated solidarity bankrupt regulated by TCC art. 557 and differentiated solidarity and personal bankrupt cause of responsibility limited by the damage caused regulated by BA art. 110 shall be tried to put forward. 

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