Louisiana Revised Statutes 17:2823 – Immunity of members
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Terms Used In Louisiana Revised Statutes 17:2823
- Cooperative: means a corporation organized under this Chapter and a corporation which becomes subject to this Chapter in the manner provided in this Chapter. See Louisiana Revised Statutes 17:2803
- Member: means each incorporator of a cooperative and each person admitted to and retaining membership therein, and shall include a husband and wife admitted to joint membership. See Louisiana Revised Statutes 17:2803
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.
Added by Acts 1958, No. 257, §23.