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 § 30-30-620

Title 30CORPORATIONS

Part 6DIRECTORS AND OFFICERS

Ch. 30IDAHO NONPROFIT CORPORATION ACT

This text of Idaho § 30-30-620 (LOANS TO OR GUARANTEES FOR DIRECTORS AND OFFICERS) is published on Counsel Stack Legal Research, covering Idaho primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Idaho Code § 30-30-620 (2026).

Text

(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.