No liability as director for limited cooperative association's obligations

7-58-802. No liability as director for limited cooperative association's obligations. A debt, obligation, or other liability of a limited cooperative association is solely that of the association and is not a debt, obligation, or liability of a director solely by reason of being a director. An individual is not personally liable, directly or indirectly, for an obligation of an association solely by reason of being a director. Source: L. 2011: Entire article added, (SB 11-191), ch. 197, p. 791, � 1, effective April 2, 2012.