Iowa Code § 515.23

Current through bills signed by governor as of 5/17/2024

Section 515.23 - Prohibited loans

Capital, surplus, funds, or other assets, or any part of any or all of the foregoing, shall not be directly or indirectly loaned to an officer, director, stockholder, or employee of a company or to a relative of an officer or director of a company.

Iowa Code § 515.23

S13, §1783-e; C24, 27, 31, 35, 39, §8905; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, § 515.11 88 Acts, ch 1112, §401; 90 Acts, ch 1234, §35

Referred to in §511.23