Legislation

Search OpenLegislation Statutes

The Laws of New York
Consolidated Laws of New York
CHAPTER 43-A
Public Authorities
ARTICLE 10
New York State Municipal Assistance Corporation Act
TITLE 2
General Provisions Relating to Municipal Assistance Corporations
previous
SECTION 3015
Agreement with the state
up
TITLE 2
General Provisions Relating to Municipal Assistance Corporations
next
SECTION 3017
Remedies of noteholders and bondholders
This entry was published on 2014-09-22
The selection dates indicate all change milestones for the entire volume, not just the location being viewed. Specifying a milestone date will retrieve the most recent version of the location before that date.
SECTION 3016
State or state-aided municipality not liable on notes and bonds
Public Authorities (PBA) CHAPTER 43-A, ARTICLE 10, TITLE 2
§ 3016. State or state-aided municipality not liable on notes and
bonds. The notes, bonds or other obligations of a municipal assistance
corporation shall not be a debt of either the state or the municipality
being assisted, and neither the state nor such municipality shall be
liable thereon, nor shall they be payable out of any funds other than
those of such corporation; and such notes and bonds shall contain on the
face thereof a statement to such effect.