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.
Structure Montana Code Annotated
Title 35. Corporations, Partnerships, and Associations
Chapter 17. Cooperative Agricultural Marketing
Part 3. Operation -- Members, Directors, and Officers
35-17-302. Stock -- issuance -- limitations on ownership and transfer -- repurchase by association
35-17-303. Limited liability of members
35-17-304. Expulsion of member
35-17-305. Meetings of members -- general and special -- how called -- notice -- one vote per member
35-17-306. through 35-17-310 reserved
35-17-311. Directors -- election -- compensation -- interest in contracts -- vacancies
35-17-312. Officers -- election -- bank as treasurer
35-17-313. Removal of officer or director
35-17-314. Referendum to membership of matters passed by board
35-17-315. Creation of capital reserve -- distribution of net earnings