A member is not, merely on 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.
Structure 2021 Tennessee Code
Title 43 - Agriculture and Horticulture
Chapter 38 - Tennessee Processing Cooperative Law
§ 43-38-505. Restrictions on Assignment of Governance Rights
§ 43-38-506. When Assignment of Financial and Governance Rights Effective
§ 43-38-507. Judgment Creditors of Members
§ 43-38-514. Failure to Receive Notice
§ 43-38-521. Proxy Voting Prohibited
§ 43-38-525. Representative of the Cooperative at Meetings of Cooperative Owned Business Entities