R.I. Gen. Laws § 7-6-32

Current through 2024 Public Law 457

Section 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.

P.L. 1984, ch. 380, §1; P.L. 1984, ch. 444, § 1.