State Codes and Statutes
Statutes > Washington > Title-24 > 24-03 > 24-03-140Loans to directors and officers prohibited.
No loans shall be made by a corporation to its directors or officers. The directors of a corporation who vote for or assent to the making of a loan to a director or officer of the corporation, and any officer or officers participating in the making of such loan, shall be jointly and severally liable to the corporation for the amount of such loan until the repayment thereof.
[1967 c 235 § 29.]
