Section 308B.505 Member Not Liable for Cooperative Debts
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