Legal Alert: Prohibition on Personal Loans to Directors and …
“Act”) prohibits U.S. and non-U.S. public companies from making or arranging for a personal loan to any director or executive officer of the company on or after July 30, 2002. Loans maintained on July 30, 2002 are “grandfathered,” provided that they are not renewed or materially modified on or after that date. Violations of this ... ................
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