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2018 New Mexico Statutes
Chapter 62 - Electric, Gas and Water Utilities
Article 15 - Rural Electric Cooperatives
Section 62-15-22 - Nonliability of members for debts of cooperative.
Universal Citation: NM Stat § 62-15-22 (2018)
62-15-22. Nonliability of members for debts of cooperative.
The private property of the members of a cooperative shall be exempt from execution for the debts of the cooperative and no member shall be liable or responsible for any debts of the cooperative.
History: Laws 1939, ch. 47, § 22; 1941 Comp., § 48-422; 1953 Comp., § 45-4-22.
Am. Jur. 2d, A.L.R. and C.J.S. references. — 18 Am. Jur. 2d Cooperative Associations § 32.
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