Ultra vires activities

(redirected from Beyond the Powers)

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.
Mentioned in ?
References in classic literature ?
As Tarzan grew he made more rapid strides, so that by the time he was ten years old he was an excellent climber, and on the ground could do many wonderful things which were beyond the powers of his little brothers and sisters.
His life amidst the dangers of the jungle had taught him to meet emergencies with self-confidence, and his higher intelligence resulted in a quickness of mental action far beyond the powers of the apes.
The question exasperated Pete beyond the powers of endurance.
To communicate his plan to the apes was not a particularly difficult matter, though their narrow and limited vocabulary was strained in the effort; but to impress upon the little, wicked brain of Sheeta that he was to hunt with and not for his legitimate prey proved a task almost beyond the powers of the ape-man.
Her eyebrows were full, even, and arched beyond the power of art to imitate.
There is something crucial, and something triumphant, not beyond the power, but hitherto beyond the imagination of men in this effect, which is not solicited, not forced, not in the least romantic, but comes naturally, almost inevitably, from the make of man.
But to forget what had happened, or to feel satisfied with my position, was beyond the power of my will.
My longing was beyond the power of opposition; I closed my eyes, stretched out my arms toward the god of my vocation and felt myself drawn with the suddenness of thought through the trackless immensity of space.
So quickly had they worked and to such good purpose, that I was utterly beyond the power to resist them by the time I was fully awake.
But in Europe everywhere except in the mountains, the water is flat and insipid beyond the power of words to describe.
In the election campaign, many promises have been made by some contestants, such as establishing new bodies, making new laws and attracting large investments, which are beyond the powers of the chamber, and some of these promises may even be beyond the powers of the Industry, Commerce and Tourism Ministry or the Economic Development Board," he added.
Opponents believe that it gives the governor of the central bank broad powers beyond the powers of the head of state, and that some of the articles clearly exceed the powers of the banks' boards of directors.