Kuwait Court of Cassation principle number 3861

The company’s board of directors. Its competence to manage the company. Its members are agents of the general assembly of shareholders for carrying out management activities. Termination of agency upon the expiry of the board’s term, resignation, or removal. Its necessary consequence. The old board continues performing its duties to preserve the company’s assets and safeguard its interests and those of the shareholders so that they are not endangered by its agents ceasing their activities and leaving management vacant. - The outgoing board may issue an invitation to convene the company’s general assembly to elect a new board of directors. The basis therefor. Article 719 of the Civil Code. - 758 - Agency