Idaho § 30-30-620 LOANS TO OR GUARANTEES FOR DIRECTORS AND OFFICERS

Idaho Statutes

§ 30-30-620 — LOANS TO OR GUARANTEES FOR DIRECTORS AND OFFICERS

Idaho·Title 30 CORPORATIONS·Part 6 DIRECTORS AND OFFICERS·Ch. 30 IDAHO NONPROFIT CORPORATION ACT

(1)Except with regard to loan or guarantee programs available to all members, a corporation may not lend money to or guarantee the obligation of a director or officer of the corporation, provided that a cooperative corporation may lend money to or guarantee the obligation of a director or officer with regard to loan or guarantee programs available to all members.

(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.

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(1) Except with regard to loan or guarantee programs available to all members, a corporation may not lend money to or guarantee the obligation of a director or officer of the corporation, provided that a cooperative corporation may lend money to or guarantee the obligation of a director or officer with regard to loan or guarantee programs available to all members.
(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.

Idaho § 30-30-620 (LOANS TO OR GUARANTEES FOR DIRECTORS AND OFFICERS) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.