Section 12
Share or interest not liable to attachment or sale
of Farmers' Organization Act 1973
Subject to section 11 of this Act, the share or interest of a member or member-unit in the capital of a Farmers’ Organization shall not be liable to attachment or sale, under any decree or order of a court in respect of any debt or liability incurred by such member or member-unit, and neither his assignee in insolvency nor a receiver duly appointed shall be entitled to, or have any claim on, such share or interest.
(2)
The liability of a member or member-unit for the debts of a
Farmers’ Organization shall be determined in the proportion of the
Farmers’ Organization 15
share or interest held by the member or member-unit to the total debts of the Farmers’ Organization.