Section 308B.505 — Member Not Liable For Cooperative Debts.

MN Stat § 308B.505 (2019) (N/A)
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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