{"data":{"id":"us-nm/53-4-18.2","jurisdiction":"us-nm","citation":"53-4-18.2","heading":"Liability of directors.","body":"No director of the association shall be personally liable to the association or its members for monetary damages for breach of fiduciary duty as a director unless:\nA. the director has breached or failed to perform the duties of the director's office in compliance with Section 53-4-18.1 NMSA 1978; and\nB. the breach or failure to perform constitutes willful misconduct or recklessness.\nThe provisions of this section shall, however, only eliminate the liability of a director for action taken as a director or any failure to take action as a director at meetings of the board of directors or of a committee of the board of directors on or after the date when the provisions of this section become effective.","path":["Chapter 53 - Corporations","ARTICLE 4 Cooperative Associations"],"source_url":"https://nmonesource.com/nmos/nmsa-unanno/en/item/18556/index.do","current_through":"2025-06-20","vintage":"","retrieved_at":"2026-09-03T15:02:20Z","sha256":"5f9c5ef93110372e3d51f9bcfeb040c55631837afd5ca80dca3701e734ac9883","source_id":"us-nm","stale":false,"prev":"us-nm/53-4-18.1","next":"us-nm/53-4-18.3"},"notice":"GroundRules: Original legal text. Not legal advice."}