The most important issue that ends the responsibilities of the members of the board of directors, managers and auditors towards the company is the release decision taken at the general assembly. With the release decision, the right of shareholders who have cast affirmative votes on the decision, as well as the company, to file a liability lawsuit against the members of the board of directors will cease. In addition, other shareholders' rights to litigation expire after six months from the date of the decision. Despite its importance, it is seen that the regulations regarding the features that a valid release decision should have in the Turkish Commercial Code (TCC) are insufficient. In particular, Article 424 of the TCC regarding the implicit release decision contains some deficiencies, and there is not even a clear regulation in the TCC regarding the conditions and scope of the open release decision. Our study aims to identify the deficiencies in the legal regulations regarding the release decision and to propose solutions regarding the scope and conditions of the release decision.
The most important issue that ends the responsibilities of the members of the board of directors, managers and auditors towards the company is the release decision taken at the general assembly. With the release decision, the right of shareholders who have cast affirmative votes on the decision, as well as the company, to file a liability lawsuit against the members of the board of directors will cease. In addition, other shareholders' rights to litigation expire after six months from the date of the decision. Despite its importance, it is seen that the regulations regarding the features that a valid release decision should have in the Turkish Commercial Code (TCC) are insufficient. In particular, Article 424 of the TCC regarding the implicit release decision contains some deficiencies, and there is not even a clear regulation in the TCC regarding the conditions and scope of the open release decision. Our study aims to identify the deficiencies in the legal regulations regarding the release decision and to propose solutions regarding the scope and conditions of the release decision.
Alan : Sosyal, Beşeri ve İdari Bilimler
Dergi Türü : Uluslararası
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