3566

Any corporation may make loans to any director, officer or employee of the corporation or of its subsidiaries, secure their obligations or otherwise assist them when the board of directors deems it reasonable to expect that such loan, surety or assistance shall benefit the corporation. The loan, surety or assistance may accrue no interest, lack collateral or be secured in the manner approved by the board of directors, including, without limitations, the pledge of the stock of the corporation.\nHistory —Dec. 16, 2009, No. 164, § 4.06.