What if I resign from a corporation as the CFO and the board members do not remove me from the corporation with the appropriate agencies?

Get Legal Help Today

Compare Quotes From Top Companies and Save

secured lock Secured with SHA-256 Encryption

What if I resign from a corporation as the CFO and the board members do not remove me from the corporation with the appropriate agencies?

I turned in a letter of resignation for a corporation that I helped start 4 months ago. I found out that the remaining board members have still not removed my name from documents with the IRS, State Board, EDD, ABC, etc., nor have they established new credit terms with vendors releasing me of liability. Do I have recourse?

Asked on November 18, 2011 under Business Law, California

Answers:

FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 12 years ago | Contributor

If you have submitted your written resignation of a corporation as its CFO and the board members have yet to remove your name as having any affiliation with this corporation, I would write all of the governmental entities that you have listed in your question stating that you are no longer affiliated with this corporation effective a certain date.

Send a copy of the letter to all of the corporation's board members and keep a copy of the letter for future reference.

As to having any legal recourse presently for the board's inaction, you do not. You have yet to be damaged.


IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.

Get Legal Help Today

Find the right lawyer for your legal issue.

secured lock Secured with SHA-256 Encryption