Loans to or guaranties for directors and officers

  1. Law
  2. Montana Code Annotated
  3. Corporations, Partnerships, and Associations
  4. Nonprofit Corporations
  5. Directors and Officers -- Indemnification
  6. Loans to or guaranties for directors and officers

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35-2-435. Loans to or guaranties for directors and officers. (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 guaranty is made in violation of this section does not affect the borrower's liability on the loan.

History: En. Sec. 93, Ch. 411, L. 1991.


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