§ 4-33-832. Loans to or guaranties for directors and officers

AR Code § 4-33-832 (2018) (N/A)
Copy with citation
Copy as parenthetical citation

(a) A corporation may not lend money to or guaranty the obligation of a director or officer of the corporation.

(b) The fact that a loan or guaranty is made in violation of this section does not affect the borrower's liability on the loan.