No member shall be liable for the debts of the association to an amount exceeding the sum remaining unpaid on the member's membership fee or the member's subscription to the capital stock, including any unpaid balance on any promissory notes given in payment of that amount.
Tenn. Code Ann. § 43-16-125
Liability of members for debts
Known as the Cooperative Marketing Law
The act spans §§ 43-16-101 to 43-16-148 (48 sections).
Acts 1923, ch. 100, § 15; Shan
Current official text: Tennessee Code (LexisNexis). Digitized from the UniCourt Code Improvement Commission public-domain capture. Reproduced from public-domain Tennessee statutes; confirm against the official source for the current text. Not legal advice.