Loans to directors and officers.

  1. Law
  2. New Mexico Statutes
  3. Corporations
  4. Nonprofit Corporations
  5. Loans to directors and officers.

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Any director or officer who assents to or participates in the making of any loan to a director or officer shall be personally liable to the corporation for the amount of the loan until the repayment thereof.

History: 1953 Comp., § 51-14-71, enacted by Laws 1975, ch. 217, § 29.

ANNOTATIONS

Am. Jur. 2d, A.L.R. and C.J.S. references. — 18A C.J.S. Corporations § 913.


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