2010 Mississippi Code
TITLE 57 - PLANNING, RESEARCH AND DEVELOPMENT
Chapter 10 - Small Business Assistance.
57-10-417 - Bonds as limited obligation of corporation; personal liability of member or officer of corporate board [Repealed effective October 1, 2011].

§ 57-10-417. Bonds as limited obligation of corporation; personal liability of member or officer of corporate board [Repealed effective October 1, 2011].
 

The bonds issued by the corporation under Sections 57-10-401 through 57-10-445 shall be limited obligations of the corporation and shall not constitute a debt, liability or general obligation of the state or any political subdivision thereof (other than the corporation), or a pledge of the faith and credit of the state or any political subdivision thereof (other than the corporation), but shall be payable solely as provided by the corporation under Sections 57-10-401 through 57-10-445. No member or officer of the board of directors of the corporation nor any person executing the bonds shall be liable personally on the bonds by reason of the issuance thereof. Each bond issued under Sections 57-10-401 through 57-10-445 shall contain on the face thereof a statement that neither the state, nor any other political subdivision thereof, shall be obligated to pay the same or the interest thereon or other costs incident thereto except from the revenue or money pledged by the corporation and that neither the faith and credit nor the taxing power of the state or any political subdivision thereof is pledged to the payment of the principal of, or the interest on, such bond. 
 

Sources: Laws,  1993, ch. 565, § 9; reenacted without change, Laws,  1997, ch. 576, § 9; reenacted without change, Laws, 2000, ch. 425, § 9; reenacted without change, Laws, 2001, ch. 337, § 9; reenacted without change, Laws, 2005, ch. 399, § 9; reenacted without change, Laws, 2007, ch. 389, § 9, eff from and after Oct. 1, 2007.