N.Y. Public Authorities Law 2046-D – State and town not liable on bonds or notes
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§ 2046-d. State and town not liable on bonds or notes. Neither the state, the town nor any other municipality or other public corporation shall be liable on the bonds and notes of the agency and such bonds and notes shall not be a debt of the state, the town or any other municipality or public corporation, and such bonds and notes shall contain on the face thereof a statement to such effect.
Terms Used In N.Y. Public Authorities Law 2046-D
- 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.