- de facto director
A person who acts as a director without having been validly appointed.
Practical Law Dictionary. Glossary of UK, US and international legal terms. www.practicallaw.com. 2010.
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de facto director — A person who usurps the office of a member of a board of directors of a corporation, and exercises the functions of a member of the board, under color of an election or appointment in itself not legal. Hulings v Hulings Lumber Co. 38 W Va 351,… … Ballentine's law dictionary
director — di·rec·tor n 1: the head of an organized group or administrative unit or agency 2: any of a group of persons usu. elected by shareholders and entrusted with the overall control of a corporation ◇ Directors owe a fiduciary duty to the shareholders … Law dictionary
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de facto — de fac·to 1 /di fak tō, dā , dē / adv [Medieval Latin, literally, from the fact]: in reality: actually these two constraints have been lifted, one de facto and one de jure Susan Lee de facto 2 adj … Law dictionary
de facto corporation — A corporation in fact, an apparent corporate organization, asserted to be a corporation by its members, and actually acting as such, but lacking the creative fiat of the law an organization with color of law, exercising corporate rights and… … Ballentine's law dictionary
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