Washington Statutes
§ 24.06.165 — Loans to directors or officers.
Washington § 24.06.165
JurisdictionWashington
Title 24CORPORATIONS AND ASSOCIATIONS (NONPROFIT)
Ch. 24.06NONPROFIT MISCELLANEOUS AND MUTUAL CORPORATIONS ACT
This text of Washington § 24.06.165 (Loans to directors or officers.) is published on Counsel Stack Legal Research, covering Washington primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Bluebook
Wash. Rev. Code § 24.06.165 (2026).
Text
No loans exceeding or more favorable than those which are customarily made to members or shareholders shall be made by a corporation to its directors or officers. The directors of a corporation who vote for or assent to the making of a loan in violation of this section to a director or officer of the corporation, and any officer or officers participating in the making of such loan, shall be jointly and severally liable to the corporation for the amount of such loan until the repayment thereof.
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Legislative History
[1969 ex.s. c 120 s 33.]
Nearby Sections
15
§ 24.06.005
Definitions.§ 24.06.010
Application of chapter.§ 24.06.015
Purposes.§ 24.06.020
Incorporators.§ 24.06.025
Articles of incorporation.§ 24.06.030
General powers.§ 24.06.032
Additional rights and powers authorized.§ 24.06.040
Defense of ultra vires.§ 24.06.045
Corporate name.§ 24.06.047
Registration of corporate name.§ 24.06.048
Renewal of registration of corporate name.§ 24.06.050
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Bluebook (online)
Washington § 24.06.165, Counsel Stack Legal Research, https://law.counselstack.com/statute/wa/24.06.165.