Section 53-8-29 - Loans to directors and officers

Any director or officer who assents to or participates in the making of any loan to a director or officer shall be personally liable to the corporation for the amount of the loan until the repayment thereof. History: 1953 Comp., § 51-14-71, enacted by Laws 1975, ch. 217, § 29. ANNOTATIONSAm. Jur. 2d, A.L.R. and C.J.S. references. — 18A C.J.S. Corporations § 913.