There is a newer version of the Iowa Code
2014 Iowa Code
TITLE XII - BUSINESS ENTITIES
SUBTITLE 3 - ASSOCIATIONS
CHAPTER 501A - COOPERATIVE ASSOCIATIONS ACT
SECTION 501A.802 - Member liability.
IA Code § 501A.802 (2014) What's This?
501A.802 Member liability.
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.
2005 Acts, ch 135, §52
See also §501A.714
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