501A.802 - MEMBER LIABILITY. - Iowa Statutes

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.          Section History: Recent Form 2005 Acts, ch 135, §52 See also §501A.714