Except for debts lawfully contracted between him and the association no member shall be liable for the debts of the association to an amount exceeding the sum remaining unpaid on his membership fee or his subscription to the capital stock, including any unpaid balance on any promissory notes given in payment thereof.
S.C. Code Ann. § 33-47-670
Stockholder's liability
Known as the Cooperative Marketing Act
The act spans §§ 33–33 (47 sections).
1962 Code SECTION 12-947; 1952 Code SECTION 12-947; 1942 Code SECTION 6512; 1932 Code SECTION 6512; Civ
Official source: South Carolina Legislature. Reproduced from public-domain South Carolina statutes; confirm against the official source for the current text. Not legal advice.