Ky. Rev. Stat. § 272.490

Current through 2024 Ky. Acts ch. 225

Section 272.490 - Members not liable for debts of association

(1) 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, including any unpaid balance on any promissory notes given in payment thereof.

(2) Subsection (1) of this section shall not affect the liability of a member of an association for his or her own negligence, wrongful acts, or misconduct.

KRS 272.490

Effective:7/15/2010
Amended 2010, Ky. Acts ch. 133, sec. 14, effective7/15/2010. -- Created 1942 Ky. Acts ch. 88, sec. 15.