N.Y. Public Authorities Law Section 3635
State and county not liable on corporation bonds

1.

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.

2.

Except as may be authorized by the county pursuant to section seven of article seventeen of the state constitution and section thirty-six hundred thirty-two of this title, the county shall not be liable on the bonds or notes of the corporation, and such bonds or notes shall not be a debt of the county, and such bonds and notes shall contain on the face thereof a statement to such effect or a statement describing the county liability thereon, if any.

Source: Section 3635 — State and county not liable on corporation bonds, https://www.­nysenate.­gov/legislation/laws/PBA/3635 (updated Sep. 22, 2014; accessed May 4, 2024).

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Accessed:
May 4, 2024

Last modified:
Sep. 22, 2014

§ 3635’s source at nysenate​.gov

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