Ask a Law Question, Get an Answer ASAP!
No, the loan was not approved at a board meeting and a meeting has not taken place. I am a 50% shareholder and did not authorise this loan. The director was paid the loan from the company to himself. He is also a 50% shareholder.
Yes this is correct. It was for 10k. He said its fine as it's a loan but I dont agree with the way it happened Yes he just went to the bank.