N.Y. Public Authorities Law Section 2441
State and municipalities not liable on bonds and notes


The bonds, notes, tax lien collateralized securities and other obligations of the agency and its tax lien entity shall not be a debt of the state of New York or of any municipality, and neither the state nor any municipality shall be liable thereon, nor shall they be payable out of any funds other than those of the agency pledged therefor and such bonds, notes, tax lien collateralized securities and other obligations shall contain on the face thereof a statement to such effect.

Source: Section 2441 — State and municipalities not liable on bonds and notes, https://www.­nysenate.­gov/legislation/laws/PBA/2441 (updated Sep. 22, 2014; accessed Jul. 20, 2024).

Accessed:
Jul. 20, 2024

Last modified:
Sep. 22, 2014

§ 2441’s source at nysenate​.gov

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