A member is not liable for the debts of the association in an amount which exceeds the sum which remains unpaid on the member’s or stockholder’s membership fee or subscription to the capital stock, including any unpaid balance on any promissory note which is given in payment of the membership fee or the subscription to the capital stock.
(Added by Stats. 1987, Ch. 680, Sec. 1.)
Last modified: October 25, 2018