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Form a Business

Loans to or guarantees for directors and officers

11B V.S.A. § 8.32
in effect
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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. Jan. 1, 1997.
Source: Vermont General Assembly (legislature.vermont.gov)URL: https://legislature.vermont.gov/statutes/section/11B/008/00008.32Fetched: 10/21/2026

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