§414D-151 - Loans to or guaranties for directors and officers. - Hawaii Statutes

     [§414D-151]  Loans to or guaranties for directors and officers.  (a)  A corporation may not lend money to or guaranty the obligation of a director or officer of the corporation.

     (b)  The fact that a loan or guaranty is made in violation of this section shall not affect the borrower's liability on the loan. [L 2001, c 105, pt of §1]