There Is a Newer Version of the Missouri Revised Statutes
2012 Missouri Revised Statutes
TITLE XXIII CORPORATIONS, ASSOCIATIONS AND PARTNERSHIPS
Chapter 355 Nonprofit Corporation Law
Section 355.421 Loans, guarantees for directors, officers.
MO Rev Stat § 355.421 (2012) What's This?
Loans, guarantees for directors, officers.
355.421. A corporation which qualifies for an exemption from federal income tax in accordance with U.S.C. 26 Sec. 501(c) may lend money to or guarantee the obligation of a director or officer of the corporation, provided that such loan does not exceed the lesser of twenty-five percent of the total assets of the corporation or two hundred and fifty thousand dollars.
(L. 1994 H.B. 1095)Effective 7-1-95
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