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Is CEO entitled to loan repayments?

Is CEO entitled to loan repayments?

Is CEO entitled to loan repayments?

Is the CEO of a nonprofit organization providing services to disadvantaged children entitled to repayment of loans she made to help her organization with cash flow problems? If she can prove it, a federal District Court in Ohio has essentially ruled. But disputes over the facts have prevented a ruling on a motion for summary judgment without a trial. The full-time president of the organization, who reported to the board, claimed that she loaned the organization $30,000 in 2002 pursuant to a written loan agreement to tide it over until receipt of federal funds for Head Start. When the funds were received, she was repaid in full. Thereafter, she alleged, she was told she did not need formal...

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