What implication does the failure to comply with the Revised Corporation Code have on directors?

The failure to comply with the Revised Corporation Code can lead to directors being held personally liable for the debts of the company. This liability arises from the principle of fiduciary duty, which obligates directors to act in the best interests of the corporation and its shareholders. When they fail to adhere to the requirements set forth by the Corporation Code, it can be seen as negligence or misconduct, resulting in personal financial responsibility for actions taken or not taken on behalf of the corporation.

This concept is crucial because it emphasizes the importance of maintaining good governance and ethical conduct within corporate management. The law aims to ensure that directors are accountable for their decisions and actions, particularly when those actions could harm the corporation or its stakeholders. The possibility of personal liability serves as a deterrent against poor management practices and encourages directors to comply with regulatory requirements diligently.

In contrast, the other options do not accurately reflect the implications of failure to comply with the Revised Corporation Code. Directors do not receive bonuses for compliance issues, they do not maintain immunity from liability when they breach their duties, and the notion of receiving warnings for first-time offenses does not effectively address the serious legal implications of non-compliance. The focus is on holding directors accountable to protect the interests of the corporation and its investors.