{"data":{"id":"us-gu/18-gca-17504","jurisdiction":"us-gu","citation":"18 GCA § 17504","heading":"Liability of Members and Directors.","body":"(a) A debt, obligation, or other liability of a limited cooperative association is solely the debt, obligation, or other liability of the association. A member or director is not personally liable, directly or indirectly, by way of contribution or otherwise, for a debt, obligation, or other liability of the association solely by reason of being or acting as a member or director of the association. This Subsection applies regardless of the dissolution of the association.\n(b) The failure of a limited cooperative association to observe formalities relating to the exercise of its powers or management of its activities and affairs is not a ground for imposing liability on any member or director for a debt, obligation, or other liability of the association.","path":["Title 18: Business Structure and Function","Division 1 - Business Structure","Part 2 - Special Corporate Forms","Chapter 17: Guam Uniform Limited Cooperative Association Act","ARTICLE 5: MEMBERS"],"source_url":"https://col.guamcourts.gov/sites/default/files/18gc017.pdf","current_through":"P.L. 38-133 (June 4, 2026)","vintage":"","retrieved_at":"2026-09-27T03:54:38Z","sha256":"9fba16e9a2f50d15a7c32e4b447b0caca0af8d830a678014d1056478b6d5be43","source_id":"us-gu","stale":false,"prev":"us-gu/18-gca-17503","next":"us-gu/18-gca-17505"},"notice":"GroundRules: Original legal text. Not legal advice."}