No liability as director for limited cooperative association's obligations.

  1. Law
  2. Colorado Revised Statutes
  3. Corporations And Associations
  4. Uniform Limited Cooperative Association Act
  5. No liability as director for limited cooperative association's obligations.

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A debt, obligation, or other liability of a limited cooperative association is solely that of the association and is not a debt, obligation, or liability of a director solely by reason of being a director. An individual is not personally liable, directly or indirectly, for an obligation of an association solely by reason of being a director.

Source: L. 2011: Entire article added, (SB 11-191), ch. 197, p. 791, § 1, effective April 2, 2012.


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