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.
§ 62-15-22 NMSA 1978
Nonliability of members for debts of cooperative
Known as the Rural Electric Cooperative Act
The act spans §§ 62–62 (41 sections).
Laws 1939, ch. 47, § 22; 1941 Comp., § 48-422; 1953 Comp., § 45-4-22.
Official source: NMOneSource (New Mexico Compilation Commission). Reproduced from public-domain New Mexico statutes; confirm against the official source for the current text. Not legal advice.