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2011 Hawaii Code
DIVISION 2. BUSINESS
TITLE 23. CORPORATIONS AND PARTNERSHIPS
414D. Hawaii Nonprofit Corporations Act
§414D-151 Loans to or guaranties for directors and officers.


HI Rev Stat § 414D-151 (2011 through Reg Sess) What's This?

[§414D-151] Loans to or guaranties for directors and officers. (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 shall not affect the borrower's liability on the loan. [L 2001, c 105, pt of §1]

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