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Conn. Gen. Stat. § 33-1106

Liability for loans

Connecticut · General Statutes of Connecticut Chapter 602 — Nonstock Corporations · Status: effective

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Conn. Gen. Stat. § 33-1106, Liability for loans, Connecticut, version 1 as recorded 2026-10-03, yourstate.us, https://yourstate.us/provision/2199595
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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.