Section 8.32 - Loans to or guarantees for directors and officers(a) A corporation may not lend money to or guarantee the obligation of a director or officer of the corporation.(b) The fact that a loan or guarantee is made in violation of this section does not affect the borrower's liability on the loan.Added 1995, No. 179 (Adj. Sess.), § 1, eff. 1/1/1997.