EFFECTS OF EXPIRY OF THE MANDATE OF A COMPANY DIRECTOR

Abstract

This study deals with the possibility of the statutory director of a company, whose mandate has expired, to validly represent the company and bind it according to the legal deeds that it concludes with any third parties. We have tried to show that, after the expiry of the deadline, until a new appointment of the director, no new mandate arises, on the contrary, we are face with an extended mandate of the director whose mandate has reached full term. It would be based on the provisions of art. 2.030 of the Civil Code and is justified by the need for avoidance of the loss suffered by a company running out of statutory bodies. At the same time, we can talk about a mandate the limits of which are restricted and intended for the achievement of this goal. The institution of management of the third party’s assets may provide a solution for the identification of these limits.