No loans shall be made by a corporation organized under this Code to its directors or officers except if they qualify as a beneficiary of its programs under its generally applicable rules, policies and guidelines, and all applicable ethics, conflicts and disclosure rules and procedures are followed and complied with including those specifically made applicable to public purpose corporations by Part 7 of this chapter. The directors of a corporation who vote for or assent to the making of an unauthorized loan to a director or an officer of the corporation, and any officer participating in the making of such a loan, shall be jointly and severally liable to the corporation for the amount of such loan until the repayment thereof. ONCA 21-27, eff. Apr. 6, 2021.