Public Authorities Law § 2441 · Title 18. State of New York Municipal Bond Bank Agency Act
State and municipalities not liable on bonds and notes
Text — Law content up to date as of October 2, 2026, as published by the New York State Senate (Open Legislation)
§ 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 of truth
- Edition
- Law content up to date as of October 2, 2026, as published by the New York State Senate (Open Legislation)
- Official file
- https://legislation.nysenate.gov/pdf/laws/PBA2441
- Text hash
- sha256 c1504f3d44da6230562e3207179b41b0d9a88da5f692c3ae232ce93d492b68f1
- Composed by
- gen_ny_statutes.py 2026-11-10: the Senate's Open Legislation law tree (GET /api/3/laws/<ID>?full=true) read in document order; the Senate's PDF of the whole law (GET /pdf/laws/<ID>?full=true), read with PDFium, prints the same words in the same order
Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.