Liability of directors for excess of indebtedness over assets or capital

W.S. § 17-10-114 — under Chapter 10 — Cooperative Marketing Associations.

W.S. § 17-10-114

Liability of directors for excess of indebtedness over assets or capital. If the indebtedness of such corporation shall at any time exceed the amount of the assets of a nonstock corporation or the amount of subscribed capital stock of a stock company, the directors assenting thereto shall be personally and individually liable for such excess to the creditors.