N.Y. Public Authorities Law 2051-J – State, county and municipalities not liable on bonds
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§ 2051-j. State, county and municipalities not liable on bonds. Neither the state, county nor any other municipality or public corporation shall be liable on the bonds of the authority and such bonds shall not be a debt of the state, 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 2051-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.