Terms Used In Vermont Statutes Title 8 Sec. 31403

  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.

§ 31403. Liability of members

The members of the credit union shall not be personally or individually liable for the acts, debts, liabilities, or obligations of the credit union or the payment of the credit union’s debts solely by virtue of their membership in the credit union. (Added 2005, No. 16, § 1, eff. July 1, 2005.)