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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
    • Viewing most recent revision (from 2014-09-22)

    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.