3610 - State and towns not liable on corporation bonds. - New York Statutes

§ 3610. State and towns not liable on corporation bonds. (a) The state shall not be liable on the bonds or notes of the corporation and such bonds or notes shall not be a debt of the state, and such bonds and notes shall contain on the face thereof a statement to such effect. (b) Except as may be authorized by the town pursuant to section seven of article seventeen of the state constitution and section thirty-six hundred eight of this title, the town shall not be liable on the bonds or notes of the corporation and such bonds or notes shall not be a debt of the town, and such bonds and notes shall contain on the face thereof a statement to such effect or a statement describing the town liability thereon, if any.