Maine Statutes
§ 13-B §712 — Loans to directors and officers prohibited
Maine § 13-B §712
This text of Maine § 13-B §712 (Loans to directors and officers prohibited) is published on Counsel Stack Legal Research, covering Maine primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Bluebook
Me. Rev. Stat. tit. 13-B, § 13-B §712 (2026).
Text
No loans shall be made by a corporation to its directors or officers. Any director or officer who assents to or participates in the making of any such loan shall be liable to the corporation for the amount of such loan until the repayment thereof.
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Legislative History
PL 1977, c. 525, §13 (NEW).
Nearby Sections
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§ 13 §1
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New election if objections filedCite This Page — Counsel Stack
Bluebook (online)
Maine § 13-B §712, Counsel Stack Legal Research, https://law.counselstack.com/statute/me/13-B%20%C2%A7712.