Iowa § 501A.714 Limitation of liability of directors, officers, employees, members, and volunteers

Iowa Statutes

§ 501A.714 — Limitation of liability of directors, officers, employees, members, and volunteers

Iowa § 501A.714

Title XIIBUSINESS ENTITIES

Ch. 501ACOOPERATIVE ASSOCIATIONS ACT

This text of Iowa § 501A.714 (Limitation of liability of directors, officers, employees, members, and volunteers) is published on Counsel Stack Legal Research, covering Iowa primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Iowa Code § 501A.714 (2026).

Text

volunteers.
Except as otherwise provided in this chapter, a director, officer, employee, or member of
the cooperative is not liable for the cooperative’s debts or obligations, and a director, officer,
member, orothervolunteerisnotpersonallyliableinthatcapacityforaclaimbaseduponany
action taken, or any failure to take action in the discharge of the person’s duties, except for
the amount of a financial benefit received by the person to which the person is not entitled, an
intentional infliction of harm to the cooperative or its members or patrons, or an intentional
violation of criminal law.

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volunteers.
Except as otherwise provided in this chapter, a director, officer, employee, or member of
the cooperative is not liable for the cooperative’s debts or obligations, and a director, officer,
member, orothervolunteerisnotpersonallyliableinthatcapacityforaclaimbaseduponany
action taken, or any failure to take action in the discharge of the person’s duties, except for
the amount of a financial benefit received by the person to which the person is not entitled, an
intentional infliction of harm to the cooperative or its members or patrons, or an intentional
violation of criminal law.