Wisconsin Statutes Corporations (Ch. 180 to 188) § 181.0832. Loans to directors and officers

(1) Requirements for loan or guarantee. Except as provided in sub. (3), a corporation may not lend money to or guarantee the obligation of a director or officer of the corporation unless any of the following occurs:

(2) Effect of violations. A violation of this section does not affect the borrower's liability on the loan.

(3) Limited applicability. This section does not apply to an advance to a director or officer that is permitted by s. 181.0874 or 181.0877 (3) or that is made to defray expenses incurred by the director or officer in the ordinary course of the corporation's business.