MEMBER NOT LIABLE FOR COOPERATIVE DEBTS.

308C.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 carrying charges, or a debt for which the member has separately contracted with the cooperative.History: 2024 c 96 art 1 s 40 NOTE: This chapter, as added by Laws 2024, chapter 96, article 1, sections 1 to 90, is effective August 1, 2026. Laws 2024, chapter 96, article 1, section 91, as amended by Laws 2025, chapter 32, article 4, section 12.