As Amended
SEC. 57-10-117. Supplementary security requirement for corporate borrower.
If there is a corporate borrower, the committee shall require the personal guarantee or endorsement of any principal or entity owning at least twenty percent (20%) of the corporation that is borrowing money from any lender under the provisions of this article, and the committee may also require any other guarantees it deems appropriate.
SOURCES: Codes, 1942, Sec. 8940-139; Laws, 1972, ch. 441, Sec. 9; 1995, ch. 548, Sec. 3, eff from and after passage (approved April 6, 1995)