New Jersey Statutes
§ 15A:5-25 — Liabilities of members
New Jersey § 15A:5-25
JurisdictionNew Jersey
Title 15ACORPORATIONS, NONPROFIT
This text of New Jersey § 15A:5-25 (Liabilities of members) is published on Counsel Stack Legal Research, covering New Jersey primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Bluebook
N.J. Stat. Ann. § 15A:5-25 (2026).
Text
a.The members of a nonprofit corporation shall not be personally liable for the debts, liabilities or obligations of the corporation.
b.A member shall be liable to the corporation only to the extent of any unpaid portion of membership dues or assessments which the corporation may have lawfully imposed, or for any other indebtedness owed by the member to the corporation. No action shall be brought by any creditor of the corporation to reach and apply any liability to any debt of the corporation until after final judgment shall have been rendered against the corporation in favor of the creditor and execution thereon returned unsatisfied, or the corporation shall have been adjudged bankrupt, or a receiver shall have been appointed with power to collect debts, and the receiver, on demand of
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Nearby Sections
15
§ 15A:5-1
Meetings of members of corporation.§ 15A:5-10
Voting by members§ 15A:5-11
Votes required§ 15A:5-12
Greater or lesser voting requirements§ 15A:5-14
Memberships held by another corporation§ 15A:5-15
Memberships held by fiduciaries§ 15A:5-17
Voting of pledged memberships§ 15A:5-18
Proxy voting§ 15A:5-19
Agreements as to voting; provision in certificate of incorporation as to control of trustees§ 15A:5-20
Elections of trustees; cumulative voting§ 15A:5-21
Selection of inspectors§ 15A:5-22
Duties of inspectorsCite This Page — Counsel Stack
Bluebook (online)
New Jersey § 15A:5-25, Counsel Stack Legal Research, https://law.counselstack.com/statute/nj/15A/15A%3A5-25.