Michigan Laws 324.50516 – Personal liability on bonds or notes
Current as of: 2023 | Check for updates
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Terms Used In Michigan Laws 324.50516
- Authority: means the Michigan forest finance authority created in section 50503. See Michigan Laws 324.50502
- Bonds: means bonds of the authority issued as provided in this part. See Michigan Laws 324.50502
- Notes: means notes of the authority issued as provided in this part, including commercial paper. See Michigan Laws 324.50502
- Person: means an individual, partnership, corporation, association, governmental entity, or other legal entity. See Michigan Laws 324.301
Neither the members of the authority nor any person executing bonds or notes issued under this part or any person executing any agreement on behalf of the authority is liable personally on the bonds or notes by reason of their issuance.