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Terms Used In Wisconsin Statutes 193.505

  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
  • Person: includes all partnerships, associations and bodies politic or corporate. See Wisconsin Statutes 990.01

A person is not personally liable for the acts, debts, liabilities, or obligations of a cooperative merely because of the person’s status as a member. A member is liable for any unpaid subscription for the member’s membership interest, unpaid membership fees, or any debt for which the member has separately contracted with the cooperative.