Under penalty of invalidity of the agreement, the president and officers, as well as their spouses, ascendants or descendants and others intermediaries are prohibited to contract, in any form whatsoever, loans from the company, to have it consent overdrafts on a current account or otherwise, as well as have the company guarantee or endorse their commitments to third parties.
This prohibition does not apply to legal entities, which are officers.
Unofficial translation
Transcription: Spot-checked
In force from 05-05-2014
Source page 238
The document's transcription was spot-checked against the supplied source; this does not confirm a line-by-line review of every provision.
How Lex Cameroon marks its texts →
Section 853-16 of the Acte uniforme révisé relatif au droit des sociétés commerciales et du groupement d'intérêt économique/akn/ohada/act/loi/2014-01-30/auscgie-2014