GroundRules
Miss. Code Ann. § 79-11-282: Restrictions on corporate loans; borrower’s liability.
Where this section sits in the code
- Title 79. Corporations, Associations, and Partnerships
- Chapter 11. Nonprofit, Nonshare Corporations and Religious Societies
- Mississippi Nonprofit Corporation Act
(1) A corporation may not lend money to or guarantee the obligation of a director or officer of the corporation.
(2) The fact that a loan or guarantee is made in violation of this section does not affect the borrower’s liability on the loan.
Collected 2026-10-27T05:54:23Z. Source file · JSON
Compilation CC BY 4.0, Open US Law (Vaquill AI). GroundRules uses only the releases published under CC BY 4.0: from v2026.09 the compilation is licensed CC BY-NC 4.0, and GroundRules does not use those releases. Each affected row names its release in its vintage label. GroundRules parsed and filtered the compilation to retain enacted text. Source · License
Mississippi electronic product files were republished by Public.Resource.Org under a public-domain dedication. GroundRules uses enacted text from Release 78 only as a labeled supplement to the newer Open US Law rows. Source