Nonliability of members for debts of cooperative

  1. Law
  2. Maine Revised Statutes
  3. PUBLIC UTILITIES
  4. ELECTRIC POWER
  5. RURAL ELECTRIFICATION COOPERATIVES
  6. GENERAL PROVISIONS
  7. Nonliability of members for debts of cooperative

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§3706. Nonliability of members for debts of cooperative

No member may be liable or responsible for any debts of the cooperative and the property of the members may not be subject to execution for the cooperative's debts. This section does not apply to a generation and transmission cooperative organized in accordance with subchapter IV.   [PL 1987, c. 141, Pt. A, §6 (NEW).]

SECTION HISTORY

PL 1987, c. 141, §A6 (NEW).


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