SECTION 1. PROPERTY INTEREST OF MEMBERS. Upon dissolution, after all debts and liabilities of the Cooperative shall have been retired as provided in these by-laws, the remaining property and assets of the Cooperative shall be distributed among the members and former members, during the seven (7) years next preceding the date of the filing of certificates of dissolution.
SECTION 2. NON-LIABILITY FOR DEBTS OF THE COOPERATIVE. The private property of the members shall be exempt from execution or other liability for the debts of the Cooperative and no member shall be individually liable or responsible for any debts or liabilities of the Cooperative.