Restrictions on corporate loans; borrower's liability

  1. Law
  2. Mississippi Code
  3. Corporations, Associations, and Partnerships
  4. Nonprofit, Nonshare Corporations and Religious Societies
  5. Mississippi Nonprofit Corporation Act
  6. Restrictions on corporate loans; borrower's liability

Checkout our iOS App for a better way to browser and research.

  1. A corporation may not lend money to or guarantee the obligation of a director or officer of the corporation.
  2. The fact that a loan or guarantee is made in violation of this section does not affect the borrower's liability on the loan.


Download our app to see the most-to-date content.