Rhode Island Statutes
§ 7-6-32 — § 7-6-32. Loans to directors prohibited.
Rhode Island·Title 7 Corporations, Associations and Partnerships·Ch. 7-6 Rhode Island Nonprofit Corporation Act
§ 7-6-32. Loans to directors prohibited.
No loans shall be made by a corporation to its directors. Any director who assents to or participates in the making of any loan is liable to the corporation for the amount of loan until its repayment.
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Rhode Island § 7-6-32 (§ 7-6-32. Loans to directors prohibited.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
P.L. 1984, ch. 380, § 1; P.L. 1984, ch. 444, § 1.
Nearby Sections
15
§ 7-1-1
§ 7-1-1 — 7-1-4. [Repealed.]§ 7-1-15
§ 7-1-15, 7-1-16. [Repealed.]§ 7-1-18
§ 7-1-18 — 7-1-20. [Repealed.]§ 7-1-22
§ 7-1-22. [Repealed.]§ 7-1-24
§ 7-1-24 — 7-1-26. [Repealed.]§ 7-1-5.1
§ 7-1-5.1. [Repealed.]