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Bank Act

Version of section 18 from 2012-12-19 to 2024-04-01:


Marginal note:No personal liability

  •  (1) The shareholders of a bank are not, as shareholders, liable for any liability, act or default of the bank except as otherwise provided by this Act.

  • Marginal note:No personal liability — federal credit unions

    (2) The members of a federal credit union are not, as members, liable for any liability, act or default of the federal credit union except as otherwise provided by this Act.

  • 1991, c. 46, s. 18
  • 2010, c. 12, s. 1903

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