349.080. Individuals not liable on notes or bonds. - Missouri Statutes

Individuals not liable on notes or bonds.

349.080. Neither the directors of any corporation nor anyperson executing the bonds or notes shall be liable personally onthe bonds or notes by reason of the issuance thereof. Bonds andnotes issued under this section by a corporation created by orpursuant to sections 349.010 to 349.100 shall not be a debt ofthe county, the municipality or the state and neither the county,the municipality or the state shall be liable thereon nor in anyevent shall such notes or bonds be payable out of any funds orproperties other than those acquired for the purposes of thislaw, and such bonds and notes shall not constitute anindebtedness within the meaning of any constitutional orstatutory debt limitation or restriction.

(L. 1977 S.B. 267 § 15)