New Jersey § 15a:6-11
Full text of New Jersey New Jersey Statutes § 15a:6-11, with citation guidance and answers to common questions.
§ 15a:6-11.
A corporation may lend money to, or guarantee any obligation of, or otherwise assist,
any officer or other employee of the corporation or of any subsidiary, whenever, in
the judgment of the board, the loan, guarantee or assistance may reasonably be expected
to benefit the corporation, except that a corporation shall not lend money to, guarantee
any obligation of, or otherwise assist, any officer or other employee who is also
a trustee of the corporation unless the loan, guarantee or assistance is authorized
by the certificate of incorporation or bylaws and then only when authorized by at
least two-thirds of the entire board, with the vote of the interested trustee not
counted. The loan, guarantee or other assistance may be made with or without interest, and
may be unsecured or secured in a manner as the board shall approve, and may be made
upon other terms and conditions as the board may determine.
Frequently Asked Questions About New Jersey § 15a:6-11
What does New Jersey Statutes § 15a:6-11 cover?
Section 15a:6-11 is part of the New Jersey Statutes, the codified statutory law of New Jersey. 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 New Jersey § 15a:6-11?
A common citation format is "New Jersey Statutes § 15a:6-11" (New Jersey). 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 New Jersey law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the New Jersey official source linked on this page or consult a licensed New Jersey attorney.
How does New Jersey § 15a:6-11 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in New Jersey 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 New Jersey.