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Texas Business Organizations Code - Section 251.204. Certificates; Attachment

Legal Research Home > Texas Lawyer > Business Organizations Code > Texas Business Organizations Code - Section 251.204. Certificates; Attachment

§ 251.204. CERTIFICATES;  ATTACHMENT.  The minimum amount 
necessary for membership in a cooperative association, not to 
exceed $50, is exempt from attachment, execution, or garnishment 
for the debts of a member of a cooperative association.  If a 
member's holdings are subject to attachment, execution, or 
garnishment, the directors of the cooperative association may admit 
the purchaser to membership or may purchase the holdings at par 
value.

Acts 2003, 78th Leg., ch. 182, § 1, eff. Jan. 1, 2006.                     

Last modified: August 11, 2007