Which of the following statements is true about cooperatives?
A) Courts never treat cooperatives like a partnership.
B) Like shareholders of a corporation, members of incorporated cooperatives enjoy limited liability.
C) Cooperatives are not incorporated.
D) Unincorporated cooperatives are treated like limited liability companies.
E) Cooperatives may be incorporated or unincorporated, however, in either case, liability for its members is the same.

Question

Quizplus · Accepted Answer

Members of incorporated cooperatives enjoy limited liability similar to shareholders of a corporation, protecting their personal assets from the cooperative's liabilities.

Which of the Following Statements Is True About Cooperatives