30.0144 Liability of directors and officers.

Cite as [A.S.C.A. § 30.0144]

If the Directors or officers of any corporation operating or organized under the provisions of this chapter knowingly cause to be published or give out any written statement or report of the condition or business of the corporation that is false in any material respect, the officers and di-rectors causing such report or statement to be published or given out, or assenting thereto, are jointly and severally individually liable to the corporation and creditors for any loan or damage arising therefrom.

History: 1962, PL 7-20.