Iowa Code (Last Updated: December 05, 2016)

Section 508.7. Loans to officers.

Latest version.

Except as permitted in sections 508.8 and 508.8A, the capital or other funds shall not be loaned directly or indirectly to an officer, director, stockholder, or employee of the company or directly or indirectly to a relative of an officer or director of the company.
[C73, §1162; C97, §1769; C24, 27, 31, 35, 39, §8649; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §508.7;
81 Acts, ch 166, §1
]
91 Acts, ch 213, §4

                    
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