350.606 - Recourse against officers and agents of municipality: Acceptance of securities constitutes waiver and release. - Nevada Statutes

350.606  Recourse against officers and agents of municipality: Acceptance of securities constitutes waiver and release.  No recourse shall be had for the payment of the principal of, any interest on, and any prior redemption premiums due in connection with any bonds or other municipal securities or for any claim based thereon or otherwise upon the ordinance authorizing their issuance or other instrument appertaining thereto, against any individual member of the governing body or any officer or other agent of the municipality, past, present or future, either directly or indirectly through the governing body or the municipality, or otherwise, whether by virtue of any constitution, statute or rule of law, or by the enforcement of any penalty or otherwise, all such liability, if any, being by the acceptance of the securities and as a part of the consideration of their issuance specially waived and released.

      (Added to NRS by 1967, 430; A 1975, 866)