§ 38.2-211. Other interests and payments to officers, directors, etc., prohibited
Except as provided in § 38.2-212, no officer or director of any company listed in § 38.2-210 and transacting business in this Commonwealth shall receive, directly, indirectly or through any substantial interest in any other corporation, any compensation for negotiating, procuring, recommending, or aiding in the purchase or sale of property by such company, or in obtaining any loan from the company. No such officer or director shall be pecuniarily interested, either as principal, agent, or beneficiary, in any such purchase, sale or loan. No financial obligation of any such officer or director shall be guaranteed by the company.
(Code 1950, § 38-4.2; 1952, c. 317, § 38.1-34; 1978, c. 701; 1986, c. 562.)
Sections: Previous 38.2-204 38.2-205.1 38.2-206 38.2-207 38.2-208 38.2-209 38.2-210 38.2-211 38.2-212 38.2-213 38.2-214 38.2-215 38.2-216 38.2-217 38.2-218 NextLast modified: April 16, 2009