GroundRules
R.I. Gen. Laws § 7-6-32: Loans to directors prohibited.
Where this section sits in the code
- Title 7 Corporations, Associations, and Partnerships
- Chapter 6 Rhode Island Nonprofit Corporation Act
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.
Collected 2026-09-05T19:02:34Z. Source file · JSON