Connecticut § 33-1106 - Liability for loans.
Full text of Connecticut Connecticut General Statutes § 33-1106 — Liability for loans., with citation guidance and answers to common questions.
§ 33-1106. Liability for loans.
Sec. 33-1106. Liability for loans. 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.
(P.A. 96-256, S. 78, 209.)
History: P.A. 96-256 effective January 1, 1997.
Secs. 33-1107 and 33-1108. Reserved for future use.
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OFFICERS
Frequently Asked Questions About Connecticut § 33-1106
What does Connecticut General Statutes § 33-1106 cover?
Section 33-1106 ("Liability for loans.") is part of the Connecticut General Statutes, the codified statutory law of Connecticut. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Connecticut § 33-1106?
A common citation format is "Connecticut General Statutes § 33-1106" (Connecticut). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Connecticut law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Connecticut official source linked on this page or consult a licensed Connecticut attorney.
How does Connecticut § 33-1106 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Connecticut can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Connecticut.