Liability.

  1. Law
  2. New Mexico Statutes
  3. Corporations
  4. Nonprofit Corporations
  5. Liability.

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The directors, officers, employees and members of the corporation shall not be personally liable for the corporation's obligations.

History: 1953 Comp., § 51-14-67, enacted by Laws 1975, ch. 217, § 25.

ANNOTATIONS

Am. Jur. 2d, A.L.R. and C.J.S. references. — 18B Am. Jur. 2d Corporations §§ 1684 to 1720.

Personal liability of member of voluntary association not organized for personal profit on contract with third person, 7 A.L.R. 222, 41 A.L.R. 754.


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