36 U.S. Code § 40510 - Liability

§ 40510.
Liability
(a)Liability of Corporation.—
The corporation is liable for the acts of its officers and agents acting within the scope of their authority.
(b)Immunity of Individuals.—
A member or private individual is not liable for the obligations of the corporation.

Historical and Revision Notes

Revised

Section

Source (U.S. Code)

Source (Statutes at Large)

40510(a)

36:801.

Aug. 14, 1958, Pub. L. 85–642, §§ 9(a) (1st sentence words after last comma), 11, 72 Stat. 599, 600.

40510(b)

36:799(a) (1st sentence words after last comma).

 

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