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2020 New Mexico Statutes
Chapter 53 - Corporations
Article 8 - Nonprofit Corporations
Section 53-8-25 - Liability.
Universal Citation: NM Stat § 53-8-25 (2020)
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.
ANNOTATIONSAm. 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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