The daily management of company administrators/directors entails a wide variety of obligations and responsibilities. The possibility of receiving a claim (cancelled or unfounded) as a result of said obligations increases exponentially and the director/manager must respond with his personal assets (cash, house, car, etc.) in case of having breached any of his obligations .
This product protects the personal assets of administrators and managers.
WHERE ARE THESE RESPONSIBILITIES REGULATED?
- Capital Companies Law – reform of 12/2014 expanded the responsibility of administrators
- Civil Code
- Concursal law
- General Tax Law – Art. 43 of subsidiary liability of administrators
- Penal Code – reform 2010 and subsequent ones