{"data":{"id":"us-ia/iowa-code-504.834","jurisdiction":"us-ia","citation":"Iowa Code § 504.834","heading":"Loans to or guarantees for directors and officers.","body":"1. A corporation shall not lend money to or guarantee the obligation of a director or officer of the corporation.\n2. This section does not apply to the situation where the director or officer is a full-time employee of the corporation and involves any of the following:\na. An advance to pay reimbursable expenses reasonably expected to be incurred by a director or officer.\nb. An advance to pay premiums on a policy of life insurance if the advance is secured by the policy’s death benefit proceeds or cash surrender value, or both.\nc. Advances pursuant to part 5 of this subchapter.\nd. Loans or advances pursuant to employee benefit plans.\ne. A loan secured by the principal residence of an officer.\nf. A loan to pay relocation expenses of an officer.\n3. The fact that a loan or guarantee is made in violation of this section does not affect the borrower’s liability on the loan.","path":["Title XII - BUSINESS ENTITIES (Ch. 486 - 504C)","Chapter 504 - REVISED IOWA NONPROFIT CORPORATION ACT","Subchapter VIII - DIRECTORS AND OFFICERS","Part 3 - STANDARDS OF CONDUCT"],"source_url":"https://www.legis.iowa.gov/docs/code/2026/504.834.pdf","current_through":"Iowa Code 2026 edition","vintage":"","retrieved_at":"2026-09-14T19:40:12Z","sha256":"00e099adf119b71385e479ed4be82b066b7085a7640d1e170558441e50173791","source_id":"us-ia","stale":false,"prev":"us-ia/iowa-code-504.833","next":"us-ia/iowa-code-504.835"},"notice":"GroundRules: Original legal text. Not legal advice."}