Section 10.15.090. Limitation of liability of members.

Latest version.

Except for a debt lawfully contracted between a member and the cooperative, a member is not liable for the debts of the cooperative in an amount exceeding the sum remaining unpaid on the member's subscription for shares of the cooperative, and the sum remaining unpaid on the member's membership fee if a fee is required by the cooperative.

Notes

History

(Sec. 13 ch 107 SLA 1959)

                    
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