36 U.S.C. § 40510

Current through P.L. 118-107 (published on www.congress.gov on 11/21/2024)

Section 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.

36 U.S.C. § 40510

Pub. L. 105-225, 112 Stat. 1335.

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).