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     35-2-435. Loans to or guaranties for directors and officers. (1) A corporation may not lend money to or guarantee the obligation of a director or officer of the corporation.
     (2) The fact that a loan or guaranty is made in violation of this section does not affect the borrower's liability on the loan.

     History: En. Sec. 93, Ch. 411, L. 1991.

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