There Is a Newer Version of the Maine Revised Statutes
  1. 2025 Maine Rev. Stat.
  2. 2024 Maine Rev. Stat.
  3. 2023 Maine Rev. Stat.
  4. 2012 Maine Rev. Stat. (here)
  5. View All Versions
View Our Newest Version Here

2012 Maine Revised Statutes
TITLE 13: CORPORATIONS
Chapter 85: COOPERATIVES
13 §1643. Liability of members


13 ME Rev Stat § 1643 (2012 through 125th Legis) What's This?

Part 2: CORPORATIONS WITHOUT CAPITAL

Subchapter 1: CONSUMER COOPERATIVES

§1643. Liability of members

Members shall not be jointly or severally liable for any debts of the association, nor shall a subscriber be so liable except to the extent of the unpaid amount on the shares or membership certificates subscribed by him. No subscriber shall be released from such liability by reason of any assignment of his interest in the shares or membership certificate, but shall remain jointly and severally liable with the assignee until the shares or certificates are fully paid-up.

Disclaimer: These codes may not be the most recent version. Maine may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.