{"data":{"id":"us-al/ala.-code-10a-3-2.42","jurisdiction":"us-al","citation":"Ala. Code § 10A-3-2.42","heading":"Loans to Directors and Officers Prohibited.","body":"No loans shall be made by a nonprofit corporation to its directors or officers. Any director or officer who assents to or participates in the making of any loan shall be liable to the nonprofit corporation for the amount of the loan until the repayment thereof.","path":["Title 10A Alabama Business and Nonprofit Entities Code.","Chapter 3 Nonprofit Corporations.","Article 2 Substantive Provisions.","Division D Entity Specific Powers; Limitations."],"source_url":"https://alison.legislature.state.al.us/code-of-alabama?section=10A-3-2.42","current_through":"Act 2026-611","vintage":"","retrieved_at":"2026-09-03T14:01:53Z","sha256":"00ab379fce68793f892c70a4e02bb5789047cca244d7b3358aeec88bdeccf1bc","source_id":"us-al","stale":false,"prev":"us-al/ala.-code-10a-3-2.41","next":"us-al/ala.-code-10a-3-2.43"},"notice":"GroundRules: Original legal text. Not legal advice."}