C-38 - Companies Act

Full text
188. No loan shall be made by the company to any shareholder. If such loan is made, all directors and other officers of the company making the same, or in anywise assenting thereto, shall be severally liable for the amount of such loan, with interest, to the company, and also to the creditors of the company.
R. S. 1964, c. 271, s. 184.