Members severally liable where company operates below minimum membership and continues business; liable for debts contracted thereafter.

A provision imposes personal, several liability where a company continues business with membership below the statutory minimum: if a public company has fewer than seven members or a private company fewer than two, and the company carries on business for more than six months while membership is reduced, each member who is a member after those six months and aware of the reduced membership is severally liable for the whole debts contracted during that period and may be severally sued.

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