(1) A corporation may not lend money to or guarantee the obligation of a director or officer of the corporation. (2) The fact that a loan or guaranty is made in violation of this section does not affect the borrower's liability on the loan.
Loans To Or Guaranties For Directors And Officers
Mont. Code Ann. § 35-2-435, under Directors and Officers -- Indemnification.
Mont. Code Ann. § 35-2-435