674 - Presumption of knowledge of corporate condition and business and of assent thereto by directors; definitions.

§ 674.  Presumption  of  knowledge of corporate condition and business  and of assent thereto by directors; definitions. It is no defense  to  a  prosecution  for a violation of the provisions of this article, that the  corporation is a foreign corporation, if it carries on business or keeps  an office therefor in this state.    The term "director" as used  in  this  article  includes  any  of  the  persons  having, by law, the direction or management of the affairs of a  corporation, by whatever name described.    A director of a corporation or joint-stock association  is  deemed  to  have  such  a knowledge of the affairs of the corporation or association  as to enable him to determine whether any act, proceeding or omission of  its directors is a violation of this article. If present at a meeting of  the directors at which any act, proceeding or omission of such directors  in violation of this article occurs, he must be deemed to have concurred  therein, unless he at the time causes or in writing requires his dissent  therefrom to be entered on the minutes of the directors. If absent  from  such meeting, he must be deemed to have concurred in any such violation,  if the facts constituting such violation appear on the record or minutes  of  the proceedings of the board of directors, and he remains a director  of the corporation for six  months  thereafter  without  causing  or  in  writing  requiring his dissent from such violation to be entered on such  record or minutes.