Are directors liable in a corporation?

The liability of company directors is typically non-existent when it comes to corporations which have protections in place for high-ranking members and owners. Even if a high-ranking member makes a bad decision, the law will not make that person liable unless there’s a violation of a specific duty.

Can a Delaware corporation have no directors?

If at any time, by reason of death or resignation or other cause, a corporation should have no directors in office, then any officer or any stockholder or an executor, administrator, trustee or guardian of a stockholder, or other fiduciary entrusted with like responsibility for the person or estate of a stockholder.

Can directors of a corporation be sued?

The liability of an executive officer of a corporation will, of course, be dependent upon the facts of the individual case. Directors are often sued by plaintiffs casting their net broadly with the hope of attaching liability to a defendant with insurance.

Who can be a director of a Delaware corporation?

Yes, one person (U.S. or foreign) can be the President, Secretary, Treasurer, Sole Director and sole stockholder of a Delaware Corporation. Also, one person (U.S. or foreign) can be the member and manager of an LLC.

Where Can I sue a Delaware corporation?

If you are suing a Delaware corporation, the individual named for service should be an officer, director or registered agent of the corporation. If you do not have this information, you may obtain it from the Secretary of State’s Office at 302-739-3073.

Can you sue a company in Delaware?

An out-of-state company can no longer be sued in Delaware merely because it does business within the state, the Delaware Supreme Court has ruled. Under a 1988 state Supreme Court ruling, a plaintiff could sue a company in Delaware for a personal injury or other tort claim that occurred in another state.

Does a Delaware corporation need a board of directors?

If your startup is a corporation incorporated in Delaware or Washington, you must have a board of directors. The Delaware General Corporation Law provides that the business and affairs of every Delaware corporation shall be managed by or under the supervision of a board of directors.