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Form a Business

Loans to directors prohibited.

R.I. Gen. Laws § 7-6-32
in effect
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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.
Source: State of Rhode Island General Assembly (rilegislature.gov)URL: https://webserver.rilegislature.gov/Statutes/TITLE7/7-6/7-6-32.htmFetched: 10/20/2026

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