Alabama Statutes
§ 10A-3A-8.33 — Loans to or Guarantees for Directors and Officers
Alabama § 10A-3A-8.33
JurisdictionAlabama
Title 10AAlabama Business and Nonprofit Entities Code
Ch. 3AAlabama Nonprofit Corporation Law
Art. 8Directors and Officers
Div. CDirectors
This text of Alabama § 10A-3A-8.33 (Loans to or Guarantees for Directors and Officers) is published on Counsel Stack Legal Research, covering Alabama primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Bluebook
Ala. Code § 10A-3A-8.33 (2026).
Text
(a)A nonprofit corporation may not lend money to or guarantee the obligation of a director or officer of the nonprofit corporation.
(b)The fact that a loan or guarantee is made in violation of this section does not affect the borrower’s liability on the loan.
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Legislative History
(Act 2023-503, §1.)
Nearby Sections
15
§ 10A-1-1.01
Short Title§ 10A-1-1.02
Applicability of Chapter§ 10A-1-1.03
Definitions§ 10A-1-1.04
Disinterested Person§ 10A-1-1.05
Conspicuous Information§ 10A-1-1.06
Synonymous Terms§ 10A-1-1.07
Signing of Document or Other Writing§ 10A-1-1.08
Short Titles§ 10A-1-1.09
Reference in Law to Statute Revised by Title§ 10A-1-1.10
Reservation of Power§ 10A-1-1.11
Law Governing Filing Entities§ 10A-1-1.12
Entities Not Formed by Filing Instrument§ 10A-1-1.13
Internal Affairs§ 10A-1-2.01
General Scope of Permissible Purposes§ 10A-1-2.02
Prohibited PurposesCite This Page — Counsel Stack
Bluebook (online)
Alabama § 10A-3A-8.33, Counsel Stack Legal Research, https://law.counselstack.com/statute/al/10A-3A-8.33.