Oklahoma Statutes (Last Updated: September 18, 2014)

§ 18-441-802. No liability as director for limited cooperative association’s obligations.

Latest version.

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.

                    
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