A question for our esteemed and learned brothers at the bar (sadly, we have no sisters at the bar):
To what degree are corporate directors liable for the actions of a board when they were not permitted to participate in, or even listen in on, the salient deliberations?
If the answer is "in many circumstances they are", then there is a question of fundamental fairness surrounding the exclusion of vice directors from any board deliberation, since they could at any moment and without action on their part become directors.
If the answer is "generally not", then the discussion of vice director attendance is mostly relevant to pissed off vice directors.
I must confess that "business organizations" was way down on my list of favorite subjects, and I did my best to sleep through it ... My hunch is that the former answer is mostly correct, but greater minds may know otherwise.
Which way is it, folks ??
73
Mike
K1TWF