Liability of Members and Payments of Claims Sample Clauses

Liability of Members and Payments of Claims. 1. In the event of termination of the operation of the Bank, the liability of all members for uncalled subscriptions to the capital stock of the Bank and in respect of the depreciation of their currencies shall continue until all claims of creditors, including all contingent claims, shall have been discharged.
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Liability of Members and Payments of Claims. 1. In the event of termination of the operations of the Bank, the liability of Members for the unpaid portion of the subscribed capital of the Bank shall continue until all claims of creditors, including all contingent claims, shall have been discharged.

Related to Liability of Members and Payments of Claims

  • Liability of Member The Member shall not have any liability for the obligations or liabilities of the Company except to the extent provided in the Act.

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