There is a newer version of the Iowa Code
2015 Iowa Code
TITLE XII - BUSINESS ENTITIES
SUBTITLE 5 - NONPROFIT CORPORATIONS
CHAPTER 504 - REVISED IOWA NONPROFIT CORPORATION ACT
Section 504.834 - Loans to or guarantees for directors and officers.
1. A corporation shall not lend money to or guarantee the obligation of a director or officer of the corporation.
2. The fact that a loan or guarantee is made in violation of this section does not affect the borrower’s liability on the loan.
2004 Acts, ch 1049, §93,192
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