Loans to officers.
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IA Code › Title XIII › Chapter 508 › Section 508.7
This text was captured on Aug 14, 2026. It is a snapshot, not a live feed, so check the official code before relying on it.
Text
Except as permitted in sections 508.8 and 508.8A, the capital or other funds shall not be loaned directly or indirectly to an officer, director, stockholder, or employee of the company or directly or indirectly to a relative of an officer or director of the company.
[C73, §1162; C97, §1769; C24, 27, 31, 35, 39, §8649; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §508.7; 81 Acts, ch 166, §1]91 Acts, ch 213, §4
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