Iowa Code § 515.23
Prohibited loans
Redline — January 1, 2016 → current.View current text →
Current — January 1, 2017
As of January 1, 2016
Capital, surplus, funds, or other assets, or any part of any or all of the foregoing, shall not be directly or indirectly loaned to an officer, director, stockholder, or employee of a company or to a relative of an officer or director of a company.
Capital, surplus, funds, or other assets, or any part of any or all of the foregoing, shall not be directly or indirectly loaned to an officer, director, stockholder, or employee of a company or to a relative of an officer or director of a company.
;
;
Section transferred from §515.11 in Code 2016 pursuant to directive in 2015 Acts, ch 128, §52
88 Acts, ch 1112, §401; 90 Acts, ch 1234, §35; 2015 Acts, ch 128, §50 – 52
C2016, §515.23
Official source: Iowa Legislature. Reproduced from public-domain Iowa statutes; confirm against the official source for the current text. Not legal advice.