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The content concerns Finnish legislation.
  1. Home⁠
  2. Corporate Law⁠
  3. Management of a Limited Liability Company⁠
  4. Board of Directors⁠
  5. Deputy Members of the Board
  1. Board of Directors

Deputy Members of the Board

Deputy members are appointed in order for the board of directors to retain its competence to act when ordinary members are prevented or if the ordinary members resign or they are dismissed in the middle of the term. It is mandatory to appoint a deputy member only when the board of directors consists of less than three members. In other cases deputy members may be appointed only when a provision thereof has been inserted into the articles of association.

Laws (FINLEX)

  • Limited Liability Companies Act⁠

Related articles

  • Disqualification of a Member of the Board

    A member of the board of directors may not participate in the handling of a matter between him and the company. The same applies to handling a matter between the company and a third party if it is expected that the member will receive essential benefit from the agreement and such benefit may be contrary to the interests of the company. As an exception to this, a member of the board of directors of a listed company may not participate in the handling of an agreement in the company or in its subsidiary in situations, where a contractual party and the member are in a related party relationship and the legal act is not a part of the company's regular business activities or it's not carried out in accordance with regular commercial terms.
    Read article
  • Compensation of the Board Members

    Usually, the organ appointing the members of the board of directors also determines their compensation. Unless otherwise appointed in the company's articles of association, this organ is the general meeting of shareholders.
    Read article

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