{"id":2820,"date":"2022-11-04T09:10:40","date_gmt":"2022-11-04T08:10:40","guid":{"rendered":"https:\/\/www.ecovis.com\/poland\/?p=2820"},"modified":"2022-11-04T09:17:17","modified_gmt":"2022-11-04T08:17:17","slug":"contracts-executed-by-the-company-with-a-member-of-the-management-board","status":"publish","type":"post","link":"https:\/\/www.ecovis.com\/poland\/blog\/contracts-executed-by-the-company-with-a-member-of-the-management-board\/","title":{"rendered":"Contracts executed by the company with a member of the management board"},"content":{"rendered":"

During the lifetime of a limited liability company, a person holding the position of a member of the management board may wish to enter into a contract with the company.<\/strong><\/p>\n

This type of conflict of interest arises most frequently when concluding an employment contract with a management board member. The provisions of the Commercial Companies Code expressly prohibit board members from acting on both sides of a contract. In such a case, the company is represented by the supervisory board or a commercial representative appointed under a resolution of the meeting of shareholders.<\/p>\n

The regulations do not explicitly indicate how the supervisory board should be represented when signing a contract with a member of the management board. They state that the supervisory board should act collectively, unless the company’s articles of association or the regulations of the supervisory board provide otherwise.<\/p>\n

The creation of a supervisory board in a limited liability company is not mandatory (unless it is a large company with a share capital exceeding PLN 500,000 and more than 25 shareholders). If there is no such board, the meeting of shareholders is required to adopt an appropriate resolution appointing a commercial representative in this respect. Such a resolution should be adopted by a written vote and cannot be adopted by circulation or without holding a meeting.<\/p>\n

The situation becomes more complicated in the event that a shareholder is also the sole member of the management board. In this case, a legal transaction between the shareholder and the company he or she represents must be in the form of a notarial deed, and the notary must notify the competent registry court of the legal transaction via an ICT system.<\/p>\n

A similar restriction also applies to joint-stock companies, which are also required to act through a supervisory board or a commercial representative appointed in a resolution of the general meeting.<\/p>\n

<\/i>Download Newsletter | November 2022 as PDF<\/div><\/a>\n","protected":false},"excerpt":{"rendered":"

During the lifetime of a limited liability company, a person holding the position of a member of the management board may wish to enter into a contract with the company.<\/p>\n","protected":false},"author":16,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[29,28],"tags":[42],"class_list":["post-2820","post","type-post","status-publish","format-standard","hentry","category-news","category-poland-legal-news","tag-newsletter-november-2022"],"acf":[],"yoast_head":"\nContracts executed by the company with a member of the management board - Ecovis in Poland<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ecovis.com\/poland\/blog\/contracts-executed-by-the-company-with-a-member-of-the-management-board\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Contracts executed by the company with a member of the management board - 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