Legal persons are generally not allowed to borrow money from companies. The legal representative of the company shall be the chairman, executive director or manager, and shall be registered according to law. Article 115th of the Company Law stipulates that a company may not provide loans to directors, supervisors and senior managers directly or through subsidiaries. Therefore, the company may not provide loans to the legal representative.
Legal objectivity:
Article 115 of the Company Law of People's Republic of China (PRC) * * A company may not provide loans to directors, supervisors or senior managers directly or through its subsidiaries. Article 13 The legal representative of a company shall be the chairman, executive director or manager in accordance with the articles of association, and shall be registered according to law. Where the legal representative of the company changes, it shall go through the registration of change. Provisions on the Administration of Registration of Legal Representatives of Enterprise Legal Persons Article 3 The legal representative of an enterprise legal person (hereinafter referred to as the legal representative) has been approved and registered by the enterprise registration authority and obtained the qualification of legal representative.