A Member of Board cannot perform any action on behalf of himself/herself or other persons with the company without getting permission from the Board of Directors. Otherwise, The company may claim that committed action is invalid/void. The other party cannot assert this kind of a claim.
Within the scope of this prohibition;
1- A Member of Board cannot perform any action on behalf of himself/herself or other persons without getting permission from the Board of Directors; otherwise, the company may claim that commited action is invalid/void.
2- Member of Board who has no share and acquaintances/relatives of Member of Board having no share and listed in article 393 cannot become indebted (in cash) to the company. Company cannot pledge, issue guarantee, give the assurance, give any responsibilities and take over these persons’ debts. Otherwise, company’s creditors can directly pursue these persons for company debts in line with the amount that the company holds responsible.
Source: Turkish Code of Commerce
