New Mexico Statutes 53-8-29. Loans to directors and officers
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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.
Terms Used In New Mexico Statutes 53-8-29
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.