1995 US Code
Title 36 - PATRIOTIC SOCIETIES AND OBSERVANCES
CHAPTER 18 - NATIONAL CONFERENCE OF STATE SOCIETIES, WASHINGTON, DISTRICT OF COLUMBIA
Sec. 415 - Loans to officers; liability

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Metadata
Publication TitleUnited States Code, 1994 Edition, Supplement 1, Title 36 - PATRIOTIC SOCIETIES AND OBSERVANCES
CategoryBills and Statutes
CollectionUnited States Code
SuDoc Class NumberY 1.2/5:
Contained WithinTitle 36 - PATRIOTIC SOCIETIES AND OBSERVANCES
CHAPTER 18 - NATIONAL CONFERENCE OF STATE SOCIETIES, WASHINGTON, DISTRICT OF COLUMBIA
Sec. 415 - Loans to officers; liability
Containssection 415
Date1995
Laws in Effect as of DateJanuary 16, 1996
Positive LawNo
Dispositionstandard
Source CreditApr. 3, 1952, ch. 131, §15, 66 Stat. 40.
Statutes at Large Reference66 Stat. 40


§415. Loans to officers; liability

The corporation shall not make any loans to its officers or members of the board of representatives. Any officer or board of representatives member who votes for or assents to the making of a loan or advance to an officer or board of representatives member, and any officer or board of representatives member who participates in the making of such a loan or advance, shall be jointly and severally liable to the corporation for the amount of such loan until the repayment thereof.

(Apr. 3, 1952, ch. 131, §15, 66 Stat. 40.)

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