Public Authorities Law § 3016 · Title 2. General Provisions Relating to Municipal Assistance Corporations
State or state-aided municipality 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)
§ 3016. State or state-aided municipality not liable on notes and bonds. The notes, bonds or other obligations of a municipal assistance corporation shall not be a debt of either the state or the municipality being assisted, and neither the state nor such municipality shall be liable thereon, nor shall they be payable out of any funds other than those of such 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/PBA3016
- Text hash
- sha256 5ca1e61848eca6583d89d6f79703131ecbfc77842b45bc7d819e44278e84b5b5
- 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.