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2017 Montana Code Annotated
TITLE 35. CORPORATIONS, PARTNERSHIPS, AND ASSOCIATIONS
CHAPTER 17. COOPERATIVE AGRICULTURAL MARKETING
Part 3. Operation -- Members, Directors, and Officers
35-17-303. Limited liability of members
Universal Citation: MT Code § 35-17-303 (2017)
35-17-303. Limited liability of members. Except for debts lawfully contracted between a member and the association, a member is not liable for the debts of the association for an amount exceeding the sum remaining unpaid on the member's membership fee or subscription to the capital stock, including any unpaid balance on any promissory notes given in payment of the subscription.
History: En. Sec. 14, Ch. 233, L. 1921; re-en. Sec. 6441, R.C.M. 1921; re-en. Sec. 6441, R.C.M. 1935; R.C.M. 1947, 14-414(part); amd. Sec. 1332, Ch. 56, L. 2009.
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