Indiana § 8-1-13-27 - Liability of members and directors
Full text of Indiana Indiana Code § 8-1-13-27 — Liability of members and directors, with citation guidance and answers to common questions.
§ 8-1-13-27. Liability of members and directors
Sec. 27. (a) No member of any corporation shall be liable or responsible for its debts or liabilities.
(b) A director of a distribution cooperative corporation or a director of a power supplier whose members are corporations as defined in this chapter is not personally liable while acting in good faith for the acts or omissions of the distribution cooperative corporation or the power supplier.
Formerly: Acts 1935, c.175, s.27; Acts 1939, c.106, s.3. As amended by P.L.59-1984, SEC.71; P.L.121-1987, SEC.4.
Source: official Indiana text · Last verified 2026-08-27
Frequently Asked Questions About Indiana § 8-1-13-27
What does Indiana Code § 8-1-13-27 cover?
Section 8-1-13-27 ("Liability of members and directors") is part of the Indiana Code, the codified statutory law of Indiana. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Indiana § 8-1-13-27?
A common citation format is "Indiana Code § 8-1-13-27" (Indiana). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Indiana law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Indiana official source linked on this page or consult a licensed Indiana attorney.
How does Indiana § 8-1-13-27 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Indiana can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Indiana.