17-6303.   Loans to or guaranty of obligations of officers andemployees.Any corporation may lend money to, or guarantee any obligation of, orotherwise assist any officer or other employee of the corporation or of itssubsidiary, including any officer or employee who is a director of thecorporation or its subsidiary, whenever, in the judgment of the directors,such loan, guaranty or assistance may reasonably be expected to benefit thecorporation. The loan, guaranty or other assistance may be with or withoutinterest, and may be unsecured, or secured in such manner as the board ofdirectors shall approve, including, without limitation, a pledge of sharesof stock of the corporation. Nothing contained in this section shall bedeemed to deny, limit or restrict the powers of guaranty or warranty of anycorporation at common law or under any statute.

      History:   L. 1972, ch. 52, § 25; July 1.