§18-441-802. No liability as director for limited cooperative
80 words·~1 min read·
/ok/title-18-corporations/18-441-802·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
association’s obligations.
NO LIABILITY AS DIRECTOR FOR LIMITED COOPERATIVE ASSOCIATION’S OBLIGATIONS. 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. Added by Laws 2009, c. 68, § 67, eff. Jan. 1, 2010.