Nonliability of members for debts of cooperative.

  1. Law
  2. New Mexico Statutes
  3. Electric, Gas and Water Utilities
  4. Rural Electric Cooperatives
  5. Nonliability of members for debts of cooperative.

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The private property of the members of a cooperative shall be exempt from execution for the debts of the cooperative and no member shall be liable or responsible for any debts of the cooperative.

History: Laws 1939, ch. 47, § 22; 1941 Comp., § 48-422; 1953 Comp., § 45-4-22.

ANNOTATIONS

Am. Jur. 2d, A.L.R. and C.J.S. references. — 18 Am. Jur. 2d Cooperative Associations § 32.


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