Liability for Damages of Incorporators Article 53 If an incorporator, Director at Incorporation or Company Auditor at Incorporation neglects their duties with respect to the incorporation of a Stock Company, they are liable to such Stock Company for damages arising as a result thereof.
If an incorporator, Director at Incorporation or Company Auditor at Incorporation has acted in bad faith or with gross negligence in performing their duties, such incorporator, Director at Incorporation or Auditor at Incorporation is liable to a third party for damages arising as a result thereof.
