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membership on more than one company's board of directors. This is legal so long as the companies are not competitors. Consumer activists often point to interlocking directorates as an element in corporate conspiracies. The most flagrant abuses were outlawed by the Clayton Anti-Trust Act of 1914.
commercial bank or savings institution having individuals on its board of directors who also serve on the board of an unaffiliated competitor in the same marketplace. The Financial Institutions Regulatory Act of 1978 prohibits management interlocks by banks in the same Metropolitan Statistical Area (MSA), but exempts smaller banks, and also permits interlocks of up to 49% of a bank's management officers.
membership on more than one company's board of directors. This is legal so long as the companies are not competitors. Interlocking directorates of competing companies were outlawed by the Clayton Anti-Trust Act of 1914.
Copyright c 2006, 2000, 1997, 1993, 1990 by Barron's Educational Series, Inc. Reprinted by arrangement with Publisher.
Copyright © 2007, 2000, 1997, 1987, by Barron's Educational Series, Inc. Reprinted by arrangement with Publisher.
