New Mexico Statutes

§ 53-8-29 — Loans to directors and officers

New Mexico § 53-8-29

JurisdictionNew Mexico

Ch. 53Corporations

Art. 8Nonprofit Corporations

This text of New Mexico § 53-8-29 (Loans to directors and officers) is published on Counsel Stack Legal Research, covering New Mexico primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.M. Stat. Ann. § 53-8-29 (2026).

Text

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.

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Legislative History

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

Nearby Sections

15

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[Purpose of organization; filing statement, articles of

§ 53-10-2

[Property holdings; effect of member's death on

§ 53-10-3

[Mortgage or sale of property; method of conveyance.]

§ 53-10-4

[Rules and regulations; subjects; effect.]

§ 53-10-5

[Right to sue and be sued; actions against members.]

§ 53-10-6

Suits against or by unincorporated associations; recovery

§ 53-10-7

[Maximum term of existence; dissolution; distribution of

§ 53-10-8

[Construction of act.]

§ 53-11-1

§ 53-11-10

Renewal of registered name

§ 53-11-11

Registered office and registered agent

§ 53-11-12

Failure to appoint and maintain registered agent; penalty;

§ 53-11-13

Change of registered office or registered agent

§ 53-11-14

Service of process on corporation

§ 53-11-15

Authorized shares

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Bluebook (online)

New Mexico § 53-8-29, Counsel Stack Legal Research, https://law.counselstack.com/statute/nm/53/53-8-29.