There is a newer version of the Minnesota Statutes
2011 Minnesota Statutes
Chapters 300 - 319B — Corporations
Chapter 308B — Cooperative Associations
Section 308B.505 — Member Not Liable for Cooperative Debts
MN Stat § 308B.505 (1996 through Reg Sess) What's This?
308B.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 a debt for which the member has separately contracted with the cooperative.
History:
2003 c 105 art 1 s 39
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