Tex. Agric. Code § 51.016 · Chapter 51. FARMERS' COOPERATIVE SOCIETIES
LIABILITY OF MEMBERS.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) Except as provided by this section, a member of a society is not liable to the society or its creditors for an amount that exceeds the amount unpaid on the member's membership certificates. When the member pays for the certificates in full, the member's liability ceases.
(b) A society, by clear provisions of its bylaws, may provide that:
(1) each member is liable for an amount, in addition to that provided by Subsection (a) of this section, equal to the price paid for the membership certificates owned by the member and payable on assessment of the board of directors for payment of the society's obligations; or
(2) each member may waive the right to claim personal property exempt from seizure for the member's obligations to the society.
Notes and commentary — not statutory text
History
Acts 1981, 67th Leg., p. 1099, ch. 388, Sec. 1, eff. Sept. 1, 1981.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/AG/htm/AG.51.htm
- Text hash
- sha256 dab2e18368ded521fb682baab0c7ba03c704e2565774000d1bf9ecb8cf55554e
- Composed by
- compose_tx.py 2026-10-05: the Legislative Council's chapter files read in document order; verify_tx.py's independent reading (lxml DOM walk) agrees character for character
Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.