Texas Agriculture Code

§ 52.087 — LIABILITY OF MEMBERS

AG § 52.087Title 4. AGRICULTURAL ORGANIZATIONS · Ch. 52. COOPERATIVE MARKETING ASSOCIATIONS · Art. F. MEMBERS

Statute text

Except for debts contracted with the association, a member of a marketing association is not liable for the debts of the association in an amount that exceeds the amount that is unpaid on the member's membership fee or subscription to capital stock, including any unpaid balance on promissory notes given in payment for the stock.

Legislative history

Acts 1981, 67th Leg., p. 1111, ch. 388, Sec. 1, eff. Sept. 1, 1981.