Arizona Laws 28-7505
Current as of: 2024 | Check for updates
|
Other versions
A. The members of the board or a person executing the bonds is not personally liable for the payment of the bonds.
Terms Used In Arizona Laws 28-7505
- Board: means the transportation board. See Arizona Laws 28-101
- Bonds: means bonds of the board issued pursuant to this article. See Arizona Laws 28-7501
- Department: means the department of transportation acting directly or through its duly authorized officers and agents. See Arizona Laws 28-101
- Person: includes a corporation, company, partnership, firm, association or society, as well as a natural person. See Arizona Laws 1-215
B. The bonds are valid and binding obligations of the department notwithstanding the fact that before the delivery of the bonds any of the officers whose signatures appear on the bonds cease to be officers of the department.
C. From and after the sale and delivery of the bonds, the bonds are incontestable by the board or department.