Tex. Business Organizations Code § 251.154
LIABILITY
Texas · Texas Business Organizations Code · Status: effective
Cite this
- Citation
- Tex. Business Organizations Code § 251.154, LIABILITY, Texas, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/584341
- Permanent ID
ys:prov:584341@1- SHA-256
18a335d52d4c154f5800dad28b1363d644895cd7996a0d632a2ed7fe85b148db
The hash is SHA-256 of this version's text, with every run of whitespace collapsed to a single space and the ends trimmed. The ID always leads back here, and checking it says whether the text you cited is still the current version.
Full text
(a) Except as provided by Subsection (b), a member or subscriber of a cooperative association is not jointly or severally liable for a debt of the cooperative association. A subscriber is liable for any unpaid amount on the subscriber's membership certificates or invested capital certificates.
(b) A subscriber who assigns the subscriber's interest in membership certificates or invested capital certificates is jointly and severally liable with the assignee until the appropriate certificates are fully paid.