West Virginia Code > Chapter 31F > Article 4 – Directors and Officers
Current as of: 2023 | Check for updates
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Other versions
| 31F-4-401 | Standard of conduct for directors |
| 31F-4-402 | Limitation upon liability of officers |
| 31F-4-403 | Right of action |
Terms Used In West Virginia Code > Chapter 31F > Article 4 - Directors and Officers
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
- Judgment: includes decrees and orders for the payment of money, or the conveyance or delivery of land or personal property, or some interest therein, or any undertaking, bond or recognizance which has the legal effect of a judgment. See West Virginia Code 2-2-10
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.