Rhode Island § 7-6-32 - Rhode Island Nonprofit Corporation Act
Full text of Rhode Island Rhode Island General Laws § 7-6-32 — Rhode Island Nonprofit Corporation Act, with citation guidance and answers to common questions.
§ 7-6-32. Rhode Island Nonprofit Corporation Act
R.I. Gen. Laws § 7-6-32
§ 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.
History of Section.
P.L. 1984, ch. 380, § 1; P.L. 1984, ch. 444, § 1.
Source: official Rhode Island text · Last verified 2026-08-27
Frequently Asked Questions About Rhode Island § 7-6-32
What does Rhode Island General Laws § 7-6-32 cover?
Section 7-6-32 ("Rhode Island Nonprofit Corporation Act") is part of the Rhode Island General Laws, the codified statutory law of Rhode Island. 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 Rhode Island § 7-6-32?
A common citation format is "Rhode Island General Laws § 7-6-32" (Rhode Island). 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 Rhode Island law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Rhode Island official source linked on this page or consult a licensed Rhode Island attorney.
How does Rhode Island § 7-6-32 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Rhode Island 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 Rhode Island.