Statutes > New Mexico Statutes > Chapter 53 - Corporations. > Article 8 - Nonprofit Corporations, 53-8-1 through 53-8-99. > Section 53-8-29 - Loans to directors and officers.

Section 53-8-29 - Loans to directors and officers.

53-8-29. Loans to directors and officers.

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.