New Mexico § 53-8-29 Loans to directors and officers

New Mexico Statutes

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

New Mexico·Ch. 53 Corporations·Art. 8 Nonprofit Corporations

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.

Free access — add to your briefcase to read the full text and ask questions with AI

New Mexico § 53-8-29 (Loans to directors and officers) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Legislative History

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

Nearby Sections

15

§ 53-10-1

[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

Short title

§ 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

View on official source ↗