1997 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
View Metadata| Publication Title | United States Code, 1994 Edition, Supplement 3, Title 36 - PATRIOTIC SOCIETIES AND OBSERVANCES |
| Category | Bills and Statutes |
| Collection | United States Code |
| SuDoc Class Number | Y 1.2/5: |
| Contained Within | Title 36 - PATRIOTIC SOCIETIES AND OBSERVANCES CHAPTER 18 - NATIONAL CONFERENCE OF STATE SOCIETIES, WASHINGTON, DISTRICT OF COLUMBIA Sec. 415 - Loans to officers; liability |
| Contains | section 415 |
| Date | 1997 |
| Laws in Effect as of Date | January 26, 1998 |
| Positive Law | No |
| Disposition | standard |
| Source Credit | Apr. 3, 1952, ch. 131, §15, 66 Stat. 40. |
| Statutes at Large Reference | 66 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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