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The Laws of New York
Consolidated Laws of New York
CHAPTER 43-A
Public Authorities
ARTICLE 8
Miscellaneous Authorities
TITLE 26
New York City Stabilization Reserve Corporation
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SECTION 2541
Agreement with the state
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TITLE 26
New York City Stabilization Reserve Corporation
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SECTION 2543
Remedies of noteholders and bondholders
This entry was published on 2014-09-22
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SECTION 2542
State and city not liable on notes and bonds
Public Authorities (PBA) CHAPTER 43-A, ARTICLE 8, TITLE 26
§ 2542. State and city not liable on notes and bonds. The notes, bonds
or other obligations of the corporation shall not be a debt of either
the state or the city, and neither the state nor the city shall be
liable thereon, nor shall they be payable out of any funds other than
those of the corporation; and such notes and bonds shall contain on the
face thereof a statement to such effect.