I THINK, but I'm not sure, the very last sentence in that little blurb is completely inaccurate.

As a matter of LEGAL fact, IGNORANCE OF THE LAW IS NOT A DEFENCE FOR VIOLATIONS. If his signature isn't needed for authorizations, if decisions can be made without his participation, if a great amount of time has passed since his apointment as a manager, then ''forgetfullness'' IS a sound defence.