117
In forceLiability of directors of body corporate for defalcations
Part VIIMiscellaneous
117 Liability of directors of body corporate for defalcations
Where a licensee is a firm and a body corporate is a partner in the firm or where the licensee is a body corporate, all persons who are directors of the body corporate at the time of any defalcation by the licensee are jointly and severally liable in respect of that defalcation.
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