Exercising Options, then Borrowing on Margin to Pay Taxes

Question: I have a question regarding margin accounts. Is it possible to borrow against your stock via margin loan to pay for state/federal taxes owed when exercising a NQ stock option? From my reading of the tax code I believe it is ok because I would be securing my investment in the stock? I want to do this because I know the stock is going to split soon and I must exercise my options before this event. I don't want to have to sell shares to pay taxes when I know these same shares will split and I'll have twice as many shares. I am very bullish on the stock and would rather carry a loan at 8% for one year, take advantage of the split, pay off the loan after one year and then write off the margin interest to carry the security. Is this possible?
Answer: Yes, it is possible and could be a good, if risky, strategy. Note: Many of high-tech's best and brightest employees are now broke because they employed the same strategy and their company's stock tanked. You need to find a broker who will lend you the needed money -- presumably on the stock, once the options have been exercised. Another issue: Will your company demand the tax withholding money from you immediately or will it allow you to obtain funds through borrowing?