(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 SectionSource (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).
36 U.S.C. § 40510 (2018)
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