Delaware § 8533 Liability of stockholders and officers for debts of association

Delaware Statutes

§ 8533 — Liability of stockholders and officers for debts of association

Delaware § 8533

JurisdictionDelaware

Title3

PartCooperative Agricultural Associations or Corporations

Ch. 85CORPORATION LAW FOR COOPERATIVE AGRICULTURAL ASSOCIATIONS

Subch.Stock and Stockholders; Financial Operations

This text of Delaware § 8533 (Liability of stockholders and officers for debts of association) is published on Counsel Stack Legal Research, covering Delaware primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Del. Code tit. 3, § 8533 (2026).

Text

The officers and stockholders of an association, organized under and accepting this chapter, shall not be individually liable for the debts of the association otherwise than as provided in this chapter. Each common stockholder of an association shall be liable in the common stockholder’s individual capacity to the amount of stock held by the common stockholder for all work and labor done to carry on the operations of the association. The terms “work” and “labor” as used in this section mean only such obligations incurred by the association for salary and wages for actual labor and services performed by individuals.

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The officers and stockholders of an association, organized under and accepting this chapter, shall not be individually liable for the debts of the association otherwise than as provided in this chapter. Each common stockholder of an association shall be liable in the common stockholder’s individual capacity to the amount of stock held by the common stockholder for all work and labor done to carry on the operations of the association. The terms “work” and “labor” as used in this section mean only such obligations incurred by the association for salary and wages for actual labor and services performed by individuals.