Could Removing A Nintendo Game Boy Game While The Console Is Powered-On Do Any Damage?

I've looked all over the Internet to try to find an answer to this, but I can't. I want to know if removing a Nintendo Game Boy game while the console is powered on will do any damage, like rendering the cart and/or console unusable.
I don't think it will cause any damage, seeing as most games have volatile RAM and should go back to normal when inserted into the Game Boy again and powered on, but I'd like an actual source.
Also, I understand that with a standard Game Boy and game, removing the game while the console is on is impossible, due a plastic arm sliding over to cover the game when the power switch is moved. This is assuming I'm using another Game Boy product that doesn't have that feature, such as the Game Boy Color, or an original model modded to remove the arm.
Best Answer
And to add to what Williham Totland said, a funny experiment showed up some time ago. This guy was hotswapping NES cartridges (mainly Tennis with Super Mario Bros). The thing is that the position of your character in Tennis would set some RAM values to certain states. Hotswapping the cartrdges would keep the RAM state and load it to Super Mario. Weird stuff ensues.
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