§ 20-3-269 - Loan guaranties not state debt; directors and officers not personally liable for issuance of guaranties - Georgia Statutes

O.C.G.A. 20-3-269 (2010)
20-3-269. Loan guaranties not state debt; directors and officers not personally liable for issuance of guaranties

Loan guaranties issued under this part shall not be deemed to constitute a debt, liability, or obligation of, or a pledge of the faith and credit of, the state but shall be payable solely from revenues or assets of the corporation provided for such payment pursuant to paragraph (1) of Code Section 20-3-275. No director or officer of the corporation shall be subject to any personal liability or accountability by reason of the issuance of loan guaranties by the corporation.