New South Wales Consolidated Acts

CO-OPERATIVES ACT 1992 - SECT 76

76 Liability of members to co-operative

(1) A member of a co-operative is not, as such a member, under any personal liability to the co-operative, except as provided by this section.

(2) A member of a co-operative with a share capital is liable to the co-operative for the amount, if any, unpaid on the shares held by the member together with any charges payable by the member to the co-operative as required by the rules of the co-operative.

(3) A member of a co-operative without a share capital is liable to the co-operative for any charges payable by the member to the co-operative as required by the rules of the co-operative.