Limited Liability

4. The liability of each member is limited to One Dollar, being the amount that each member undertakes to contribute to the assets of the party or branch of the party in the event of it being wound up while he or she is a member or within one year after he or she ceases to be a member, for:

  1. payment of the party’s or branch’s debts and liabilities contracted before he or she ceased to be a member;
  2. payment of the costs, charges and expenses of winding up; and
  3. adjustments of the rights of the contributories amongst themselves.