Section 47. Liability of members

1. Members of a cooperative corporation
  shall not be personally liable for its debts, unless otherwise  provided
  in its certificate of incorporation; provided, however, that each member
  and  director  shall  jointly and severally be personally liable for all
  debts due to any of its laborers,  servants  or  employees,  other  than
  contractors, for services performed by them for it as defined by section
  six  hundred  thirty  (b) of the business corporation law. The liability
  imposed by this paragraph shall be subject to the notice and  limitation
  of  action  provisions, set out in section six hundred thirty (a) of the
  business corporation law, and shall be subject to  section  six  hundred
  thirty (c) of such law.
    2. Every contract, made by the corporation with third parties, for the
  sale  or  other  disposition  of  products  which  the  corporation  has
  contracted with members or non-members to market for them, shall in  all
  respects  be deemed to be the obligation of the corporation, whether the
  corporation made such contract as principal or as agent.