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Chapter 308B
Section 308B.505
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308B.505 MEMBER NOT LIABLE FOR COOPERATIVE DEBTS.
A member is not, merely on the account of that status, personally liable for the acts, debts,
liabilities, or obligations of a cooperative. A member is liable for any unpaid subscription for the
membership interest, unpaid membership fees, or a debt for which the member has separately
contracted with the cooperative.
History: 2003 c 105 art 1 s 39
A member is not, merely on the account of that status, personally liable for the acts, debts,
liabilities, or obligations of a cooperative. A member is liable for any unpaid subscription for the
membership interest, unpaid membership fees, or a debt for which the member has separately
contracted with the cooperative.
History: 2003 c 105 art 1 s 39
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Revisor of Statutes