(a) A corporation may not lend money to or guaranty the obligation of a director or officer of the corporation. (b) The fact that a loan or guaranty is made in violation of this section does not affect the borrower's liability on the loan.
Neb. Rev. Stat. § 21-1988
Loans to or guaranties for directors and officers
Laws 1996, LB 681, § 88.
Official source: Nebraska Legislature. Reproduced from public-domain Nebraska statutes; confirm against the official source for the current text. Not legal advice.