Public Authorities Law § 2542 · Title 26. New York City Stabilization Reserve Corporation
State and city not liable on notes and bonds
Verbatim from the official edition
Text — Law content up to date as of October 2, 2026, as published by the New York State Senate (Open Legislation)
§ 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.
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/PBA2542
- Text hash
- sha256 0c618c17af63342b83a6a342bfc3ae662dcc266f5bd34840a129c0db5cead6ed
- 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.