Judicial interpretation of guarantee law
Article 4 Where a director or manager violates the provisions of the Company Law and provides a guarantee for the debts of the shareholders or other individuals of the Company with the assets of the Company, the guarantee contract shall be invalid. Unless the creditor knows or should know, the debtor and the guarantor shall be jointly and severally liable for the creditor's losses.
Article 16 of the Company Law: The company's investment in other enterprises or providing guarantee for others shall be decided by the board of directors or the shareholders' meeting in accordance with the articles of association; Where the articles of association stipulate limits on the total amount of investment or guarantee and the amount of individual investment or guarantee, it shall not exceed the prescribed limits.
Where a company provides a guarantee for the company's shareholders or actual controllers, it must be resolved by the shareholders' meeting or the shareholders' meeting.
Shareholders specified in the preceding paragraph or shareholders controlled by actual controllers specified in the preceding paragraph shall not participate in voting on matters specified in the preceding paragraph. The voting shall be passed by more than half of the voting rights held by other shareholders present at the meeting.
Article 149 Directors and senior managers shall not commit any of the following acts:
(1) Misappropriation of company funds;
(2) Opening an account for the company's funds in its own name or in the name of other individuals.
(3) Lending the company's funds to others or providing guarantee for others with the company's property without the consent of the shareholders' meeting, the shareholders' general meeting or the board of directors, in violation of the provisions of the company's articles of association;
(four) in violation of the articles of association of the company or without the consent of the shareholders' meeting or the shareholders' meeting, enter into a contract or conduct a transaction with the company;
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Article 150 Directors, supervisors and senior managers who violate laws, administrative regulations or the articles of association when performing their duties of the company and cause losses to the company shall be liable for compensation.