If our current CEO/President is co-owner of the leasing company we use for our copiers, is this legal?
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If our current CEO/President is co-owner of the leasing company we use for our copiers, is this legal?
I know that it is at least a conflict of interest. We continue to have issues with the leasing company sending us return authorizations, so we continue to pay leases that we could otherwise stop paying. He personally benefits from our company not receiving those instructions from his leasing company.
Asked on August 26, 2014 under Business Law, Georgia
Answers:
Maury Beaulier / MinnesotaLawyers.com
Answered 9 years ago | Contributor
No. It is not illegal. So long as the CEO has disclose dthe relationship and reasonable fees are paid, there is nothing apparently improper.
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