Series 79: 5.3.3. Loans To Management Or Directors

5.3.3. Loans to Management or Directors

Section 402 of the Sarbanes-Oxley Act of 2002 prohibits any issuer from making a personal loan or extending credit directly or indirectly, including through subsidiaries, to any of its directors or executive officers. The prohibition is far-reaching and even applies to arrangements to extend credit and to the renewal or maintenance of an existing extension of credit. There are exceptions to this broad prohibition for consum