CEO making a contribution- are they allowed to? Forum

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LR25

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CEO making a contribution- are they allowed to?

Post by LR25 » Wed Apr 23, 2014 8:23 pm

Lets say in the company's bylaws you only need board approval of a donation of $1,000,000 or more and the CEO wants to make a donation of 750k to a library that is going to name a section of the library after him. Is the CEO able to do this without any problems?
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ph14

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Re: CEO making a contribution- are they allowed to?

Post by ph14 » Wed Apr 23, 2014 8:26 pm

LR25 wrote:Lets say in the company's bylaws you only need board approval of a donation of $1,000,000 or more and the CEO wants to make a donation of 750k to a library that is going to name a section of the library after him. Is the CEO able to do this without any problems?
I'd talk about http://www.casebriefs.com/blog/law/corp ... -v-barlow/ . I would analyze whether the fact that the CEO is getting the library named after himself distinguishes this instance from Barlow, and the CEO's duty of loyalty.
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