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Code · Montana · Title 35 — Corporations, Partnerships, and Associations · Chapter 2 · Part 4

35-2-435. Loans to or guaranties for directors and officers.

54 words·~1 min read·/mt/title-35/chapter-2/part-4/35-2-435

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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.
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