§415B-70 Loans to directors and officers prohibited. No loans shall be made by a corporation to its directors or officers. Any director or officer who assents to or participates in the making of a loan shall be liable to the corporation for the amount of the loan until it is repaid. For the purposes of this section, any director who votes against the making of a loan shall be deemed not to have assented to or participated in the making of the loan. [L 1985, c 270, pt of §1; am L 1987, c 135, §162]