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Connecticut · Through Revised to January 1, 2026 (2026 Supplement to the General Statutes of Connecticut, applied over the base revision of January 1, 2025)

Conn. Gen. Stat. § 33-1106: Liability for loans.

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Where this section sits in the code
  1. TITLE 33. CORPORATIONS
  2. CHAPTER 602. NONSTOCK CORPORATIONS
  3. PART VII. DIRECTORS AND OFFICERS

Directors who vote for or assent to the making of a loan to an officer or to a director of a corporation, or any officer or officers participating in the making of such loan, which loan is neither made in the usual course of the corporation's affairs nor made primarily for a legitimate purpose of the corporation, shall be jointly and severally liable to the corporation for the amount of such loan until the repayment thereof.

Collected 2026-09-06T19:07:11Z. Source file · JSON

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