Illinois Compiled Statutes 205 ILCS 305/18 – Liability of members
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Terms Used In Illinois Compiled Statutes 205 ILCS 305/18
- 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
The members of the credit union shall not be personally or individually liable for the payment of its debts. A reduction in shares as provided for in Section 45 of this Act shall not be considered as imposing such individual or personal liability upon the members of the credit union.