Kiritsis & Associates
Kiritsis & Associates
Law Offices of John Kiritsis, Esq. Phone: 212-922-0005
By: John Kiritsis, Esq., CPA, MBA, MS, JD, LL.M
A review of the New York Business Corporation Law (BCL) statutes would generally be necessary, with regards to addressing corporate governance issues, involving business corporations of New York. This is a relatively complex area of the law, which is consistently changing all the time.
Under Section 630 of the BCL, the ten largest shareholders of a corporation, which is not a registered investment company and no shares of which are publicly traded, are jointly and severally liable to its employees for all wages due them for services they performed for the corporation.
Directors are jointly and severally liable if they vote for or concur (a director is presumed to concur unless he or she expressly dissents) in a declaration of dividends or purchase of shares contrary to Section 513 of the BCL or a loan to a director contrary to Sections 714 and 719 of the BCL.
It is worth noting, that subject to Section 720 of the BCL, there is a cause of action against a director or officer for self-dealing or loss or waste of corporate assets.
Although, the recent revisions brought about by the 1998 revisions, have brought New York corporate laws with regards to this area of the law, more in line with other States – it should be noted that significant changes can be construed when comparing the New York BCL with the functionally equivalent statutory frameworks of other States.
Law Offices of Kiritsis & Associates
Phone # 212 922 0005
Manhattan Office (Main Office):
633 Third Avenue
New York, NY 10017
Brooklyn Office (By Appointment Only):
1023 74th Street
Brooklyn, NY 11228
New Jersey Office:
7309 Ventnor Avenue
Ventnor, NJ 08406
ATTORNEY ADVERTISING. PRIOR RESULTS DO NOT GUARANTEE A SIMILAR OUTCOME.
We hope you would find this website useful with regards to finding potentially relevant information for your legal issue. The Law Offices of Kiritsis & Associates PLLC is a boutique law Firm Group headquartered in Midtown Manhattan, with offices in Manhattan, Brooklyn (NY) and New Jersey. We strive to provide professional legal services for individuals and various business entities. Our clientele ranges from including aspiring entrepreneurs, startups to established business organizations.
We offer flat fee prices for many of the practice areas provided listed throughout our website. For more information on the topic you may be interested, or simply to find out how our law firm group can help, you may click at any of our site's links.
We are available for existing and potentially new clients 7 days a week -- via online, phone and/or in person.
Phone: (212) – 922 – 0005
Website Created & Hosted with Website.com Website Builder