§ 7-7-11. Limited liability of members and stockholders.
No member or stockholder of an association is liable for its debts or obligations beyond the unpaid amount, if any, due by him or her on his or her membership dues or stock issued to him or her.
History of Section.P.L. 1928, ch. 1202, § 6; G.L. 1938, ch. 117, § 6; G.L. 1956, § 7-7-11.
Structure Rhode Island General Laws
Title 7 - Corporations, Associations and Partnerships
Chapter 7-7 - Producers’ Cooperatives
Section 7-7-2. - Power to form associations.
Section 7-7-3. - Contents and filing of articles of association.
Section 7-7-4. - Incorporation fee — Certificate — Articles as evidence.
Section 7-7-5. - Associations deemed nonprofit.
Section 7-7-6. - General powers of associations.
Section 7-7-8. - Qualifications of members.
Section 7-7-9. - Membership certificates — Settlement on termination of membership.
Section 7-7-10. - Voting rights.
Section 7-7-11. - Limited liability of members and stockholders.
Section 7-7-12. - Transfer of stock.
Section 7-7-13. - Restriction on dividends.
Section 7-7-14. - Directors — Meetings of association.
Section 7-7-15. - Amendment of articles.
Section 7-7-16. - Marketing contract — Enforcement.
Section 7-7-17. - Annual report — Examination of books.
Section 7-7-18. - Federation and cooperation between associations.
Section 7-7-19. - Use of name restricted to associations under chapter.