The members of an association shall not be responsible for any losses which its invested
capital is not sufficient to satisfy, except to the extent provided in sections 11-42-108 to 11-42-110, and the shares shall not be subject to assessment, nor shall certificate holders
be liable for any unpaid installment on their shares. Except as provided in article 47 of this title, no preference between certificate
holders shall be created with respect to the distribution of assets upon voluntary
or involuntary liquidation, dissolution, or winding up of an association. Shareholders in mutual associations shall participate in the distribution of all
assets, and in permanent stock associations they shall participate first, but only
to the extent of their share investments.
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