Browse Arkansas Code titles and sections
4-28-220. Loans to directors and officers prohibited.
Arkansas Code — all titles (historical 2020) · legal_authorities
4-28-220. Loans to directors and officers prohibited.
(a) No loans shall be made by a corporation to its directors or officers.
(b) The directors of a corporation who vote for or assent to the making of a loan to a director or officer and any officers participating in the making of the loan shall be jointly and severally liable to the corporation for the amount of the loan until repayment thereof.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 4-28-220
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. A text match is a research starting point; applicability is not established.
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Record provenance
Stable record: arkansas_code:legal_authorities:4-28-220
Source file: gov.ar.code.title.04.odt
Pages: Not recorded – Not recorded
Passage SHA-256: cb3f172e4e1873c815c7e44e0b46a321f660040c1343b9346126f7d949c63c1a
Source location: content.xml paragraph 18744
Stored source content
4-28-220. Loans to directors and officers prohibited.
(a) No loans shall be made by a corporation to its directors or officers.
(b) The directors of a corporation who vote for or assent to the making of a loan to a director or officer and any officers participating in the making of the loan shall be jointly and severally liable to the corporation for the amount of the loan until repayment thereof.
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