504.834 - LOANS TO OR GUARANTEES FOR DIRECTORS AND OFFICERS. - Iowa Statutes

504.834 LOANS TO OR GUARANTEES FOR DIRECTORS AND OFFICERS. 1. A corporation shall not lend money to or guarantee the obligation of a director or officer of the corporation. 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.          Section History: Recent Form 2004 Acts, ch 1049, §93, 192