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Ultra Vires Activities |
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Ultra vires activities Corporate actions and operations that are not sanctioned by corporate charter, sometimes leading to shareholder lawsuits. Ultra Vires Activities Activities in which a publicly-traded company engages that are outside the powers delegated to it in its charter and/or bylaws. Every publicly-traded company has a charter and bylaws, which both outline the powers of executives and the board of directors and actions they are allowed to take. While both the charter and the bylaws can be amended by shareholders, companies sometimes take actions outside the scope of their charters without first receiving permission to do so. If shareholders deem ultra vires activities to be harmful to them or to have the potential of harm, they may sue the company for damages. Want to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit the webmaster's page for free fun content. |
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