New Mexico Statutes 52-9-6. Board; directors as appointed public officials of state;
Current as of: 2024 | Check for updates
|
Other versions
excluded from personal liability.
Terms Used In New Mexico Statutes 52-9-6
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
Directors are appointed public officials of the state while carrying out their duties and activities under the Employers Mutual Company Act. The directors and the employees of the company are not liable personally, either jointly or severally, for any debt or obligation created or incurred by the company or for any act performed or obligation entered into in an official capacity when done in good faith, without intent to defraud and in connection with the administration, management or conduct of the company or affairs relating to it.