43-16-125 - Liability of members for debts. - Tennessee Statutes

43-16-125. Liability of members for debts.

No member shall be liable for the debts of the association to an amount exceeding the sum remaining unpaid on the member's membership fee or the member's subscription to the capital stock, including any unpaid balance on any promissory notes given in payment of that amount.

[Acts 1923, ch. 100, § 15; Shan. Supp., § 2534a49; Code 1932, § 3807; T.C.A. (orig. ed.), § 43-1825.]