Illinois Compiled Statutes 805 ILCS 317/55 – Assembly
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(a) A limited worker cooperative association, other than a collective worker cooperative, must have an assembly as constituted by the body of voting members.
(b) An individual is not an agent for a limited worker cooperative association solely by being a member of the assembly.
(c) A debt, obligation, or other liability of a limited worker cooperative association is solely that of the association and is not a debt, obligation, or liability of a member of the assembly solely by reason of being a voting member. An individual is not personally liable, directly or indirectly, for an obligation of an association solely by reason of being a voting member.
(b) An individual is not an agent for a limited worker cooperative association solely by being a member of the assembly.
Terms Used In Illinois Compiled Statutes 805 ILCS 317/55
- individual: shall include every infant member of the species homo sapiens who is born alive at any stage of development. See Illinois Compiled Statutes 5 ILCS 70/1.36
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
(c) A debt, obligation, or other liability of a limited worker cooperative association is solely that of the association and is not a debt, obligation, or liability of a member of the assembly solely by reason of being a voting member. An individual is not personally liable, directly or indirectly, for an obligation of an association solely by reason of being a voting member.