Sec. 161.060. MEMBERS NOT LIABLE FOR DEBTS OF ELECTRIC COOPERATIVE. A member is not liable for a debt of an electric cooperative except for:
(1) a debt contracted between the member and the cooperative; or
(2) an amount not to exceed the unpaid amount of the member's membership fee.
Acts 1997, 75th Leg., ch. 166, Sec. 1, eff. Sept. 1, 1997.
Structure Texas Statutes
Title 4 - Delivery of Utility Services
Subtitle A - Utility Corporations and Other Providers
Chapter 161 - Electric Cooperative Corporations
Subchapter B. Creation and Operation of Electric Cooperatives
Section 161.051. Incorporators
Section 161.052. Duration of Corporation
Section 161.053. Name of Electric Cooperative
Section 161.054. Articles of Incorporation
Section 161.055. Filing and Recording of Articles of Incorporation
Section 161.056. Revival of Articles of Incorporation
Section 161.057. Organizational Meeting
Section 161.058. Perfecting Defectively Organized Corporation
Section 161.059. Nonprofit Operation
Section 161.060. Members Not Liable for Debts of Electric Cooperative
Section 161.062. Exemption From Excise Taxes
Section 161.063. Exemption From Application of Securities Act
Section 161.066. Certificate of Membership
Section 161.067. Meetings of Members
Section 161.068. Notice of Members' Meeting
Section 161.069. Quorum of Members
Section 161.070. Voting by Members
Section 161.071. Board of Directors
Section 161.072. Election of Directors; Vacancies
Section 161.073. Compensation of Directors
Section 161.074. Quorum of Directors
Section 161.075. Board Meetings
Section 161.076. Officers, Agents, and Employees
Section 161.077. Executive Committee
Section 161.078. Indemnification
Section 161.079. Applicability of Chapter to Corporations Organized Under Other Law