83-47-11 - Liability of members for debts of corporation; exemption of private property from execution.
§ 83-47-11. Liability of members for debts of corporation; exemption of private property from execution.
The private property of the members of the corporation shall be exempt from the execution for the debts of the corporation, and no member shall be individually liable or responsible for any debts or liabilities of the corporation.
Sources: Laws, 1977, ch. 491, § 6, eff from and after passage (approved April 15, 1977).