Arkansas § 4-28-220 - Loans to directors and officers prohibited.
Full text of Arkansas Arkansas Code of 1987 Annotated § 4-28-220 — Loans to directors and officers prohibited., with citation guidance and answers to common questions.
§ 4-28-220. Loans 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 and any officers participating in the making of the loan shall be jointly and severally liable to the corporation for the amount of the loan until repayment thereof.
Source: official Arkansas text · Last verified 2026-08-27
Frequently Asked Questions About Arkansas § 4-28-220
What does Arkansas Code of 1987 Annotated § 4-28-220 cover?
Section 4-28-220 ("Loans to directors and officers prohibited.") is part of the Arkansas Code of 1987 Annotated, the codified statutory law of Arkansas. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Arkansas § 4-28-220?
A common citation format is "Arkansas Code of 1987 Annotated § 4-28-220" (Arkansas). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Arkansas law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Arkansas official source linked on this page or consult a licensed Arkansas attorney.
How does Arkansas § 4-28-220 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Arkansas can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Arkansas.