What are the legitimate implication of becoming a director of a company? Question:

Question:

None (sort of)..

A Director is simply an employee of a ltd company, next to control which varies near the amount of shares he/she has..

But - beware that usually when companies are seeking nouns, they will require directors guarantees - and being a director could sign out you liable for large debts.... Jointly & severably liable - if one skips town - the others procure his debt...

Answers:
Read the guide below very attentively. It is not risk-free and you have frequent legal obligation and requirements. Be sure that the company of which you become a director is sound and above board otherwise you could lapse up in serious trouble.

You are liable for actions of the company, taken by you as director. You may become liable to shareholders/other stakeholders. Nowadays, a Directors & Officials (D & O) insurance policy is available, which most companies purchase on behalf of directors. IF your company have purchased this insurance, you are safeguarted against any litigation challenging your appointments as director of the company.

Nothing really...Its as if u become an hand of the company...

The only time therell be implication is if the company goes bust and the director(s) are investigated into for sum manner of reason - possibly fraud etc.

Otherwise none wat so ever.