35-A §3706. Nonliability of members for debts of cooperative
Title 35-A: PUBLIC UTILITIES HEADING: PL 1987, C. 141, PT. A, §6 (NEW)
Part 3: ELECTRIC POWER HEADING: PL 1987, C. 141, PT. A, §6 (NEW)
Chapter 37: RURAL ELECTRIFICATION COOPERATIVES HEADING: PL 1987, C. 141, PT. A, §6 (NEW)
Subchapter 1: GENERAL PROVISIONS HEADING: PL 1987, C. 141, PT. A, §6 (NEW)
§3706. Nonliability of members for debts of cooperative
No member may be liable or responsible for any debts of the cooperative and the property of the members may not be subject to execution for the cooperative's debts. This section does not apply to a generation and transmission cooperative organized in accordance with subchapter IV. [1987, c. 141, Pt. A, §6 (NEW).]
SECTION HISTORY
1987, c. 141, §A6 (NEW).