N.Y. Public Authorities Law 2045-J – State, county and municipalities not liable on agency bonds
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§ 2045-j. State, county and municipalities not liable on agency bonds. Neither the state, the county nor any other municipality or public corporation shall be liable on the bonds of the agency and such bonds shall not be a debt of the state, the county or any other municipality or public corporation, and such bonds shall contain on the face thereof, a statement to such effect.
Terms Used In N.Y. Public Authorities Law 2045-J
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.