(1) A debt, obligation, or other liability of a limited cooperative association is
solely that of the association and is not a debt, obligation, or liability of a director
solely by reason of being a director. An individual is not personally liable, directly or indirectly, for an obligation
of an association solely by reason of being a director.
(2) Subsection (1) of this section shall not affect the liability of a director of
an association for his or her own negligence, wrongful acts, or misconduct.
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