There is a newer version
of
this Section
2017 New Mexico Statutes
Chapter 53 - Corporations
Article 8 - Nonprofit Corporations
Section 53-8-29 - Loans to directors and officers.
Universal Citation: NM Stat § 53-8-29 (2017)
53-8-29. Loans to directors and officers.
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.
Disclaimer: These codes may not be the most recent version. New Mexico may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google
Privacy Policy and
Terms of Service apply.
