N.Y. Public Authorities Law 3562 – State not liable on corporation bonds
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§ 3562. State not liable on corporation bonds. The state shall not be liable on the bonds or notes of the corporation and such bonds or notes shall not be a debt of the state, and such bonds and notes shall contain on the face thereof a statement to such effect.
Terms Used In N.Y. Public Authorities Law 3562
- 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.