3.3.2 Member Liability to Third Parties
| Jurisdiction | Arizona |
A.R.S. Sec. 10-3612 states that a member of a nonprofit corporation is not personally liable for the acts, debts, liabilities or obligations of the corporation. For example, if a nonprofit corporation with 10 members has $1,000,000 in liabilities and has only $10,000 in assets, the creditors of that corporation cannot pursue the members of the nonprofit corporation personally for...
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