Northern Cod Fish Co. v. Stiberg

Citations

• 96 Wash. 126
• 164 P. 750

Syllabus

<p>Corporations — Directors—Liability eor Acts of Officers. The directors of a corporation are not individually liable for the fraud of the president and general manager of which they had no knowledge, where the only allegation of negligence was that they failed to discharge him for other fraudulent acts under Rem. Code, § 3697, making the directors liable for unlawful dividends or withdrawals of the capital stock, and § 3677 providing that they shall be subject to the liabilities imposed by the act and “to none others,” and no provision of 'the statute makes them liable for the acts of the president or general manager.</p>