Ultra vires, pronounced “uhl-trah veye-rehz,” is a Latin term used in corporate law to describe actions taken by a corporation or its officers that exceed the powers or authority granted to the corporation by law. For example, if the directors of ABC Corporation operate a small bank for employees and friends without the necessary bank charter, or sell shares of stock to the public before obtaining the required permit, these actions would be considered ultra vires.
Ultra Vires
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October 9, 2024
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