Statutes, codes, and regulations
District of Columbia Official Code
Division V - LOCAL BUSINESS AFFAIRSTitle 29 - BUSINESS ORGANIZATIONSChapter 10 - LIMITED COOPERATIVE ASSOCIATIONS
Subchapter VIII - DIRECTORS AND OFFICERS
Section 29-1008.02 - No liability as director for limited cooperative association's obligations

D.C. Code § 29-1008.02

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Current through codified legislation effective October 30, 2024
Section 29-1008.02 - No liability as director for limited cooperative association's obligations

A debt, obligation, or other liability of a limited cooperative association shall be solely that of the association and shall not be a debt, obligation, or liability of a director solely by reason of being a director. An individual shall not be personally liable, directly or indirectly, for an obligation of an association solely by reason of being a director.

D.C. Code § 29-1008.02

July 2, 2011, D.C. Law 18-378, § 2, 58 DCR 1720.

Uniform Law: This section is based on § ,802 of the Uniform Limited Cooperative Association Act. Edition