Washington § 24.06.165 - Loans to directors or officers.

Full text of Washington Revised Code of Washington § 24.06.165 — Loans to directors or officers., with citation guidance and answers to common questions.

§ 24.06.165. Loans to directors or officers.

No loans exceeding or more favorable than those which are customarily made to members or shareholders 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 in violation of this section to a director or officer of the corporation, and any officer or officers participating in the making of such loan, shall be jointly and severally liable to the corporation for the amount of such loan until the repayment thereof.
[ 1969 ex.s. c 120 s 33.]

Source: official Washington text · Last verified 2026-08-27

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Frequently Asked Questions About Washington § 24.06.165

What does Revised Code of Washington § 24.06.165 cover?

Section 24.06.165 ("Loans to directors or officers.") is part of the Revised Code of Washington, the codified statutory law of Washington. 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 Washington § 24.06.165?

A common citation format is "Revised Code of Washington § 24.06.165" (Washington). 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 Washington law?

No. This page is for research and education and may not include the most recent amendments. For official current law, check the Washington official source linked on this page or consult a licensed Washington attorney.

How does Washington § 24.06.165 apply to my situation?

Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Washington 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 Washington.