Arizona § 48-1819 Validity of bonds; nonliability of officers and directors

Arizona Statutes

§ 48-1819 — Validity of bonds; nonliability of officers and directors

Arizona·Title 48 Arizona Revised Statutes·Ch. 12 ELECTRICAL DISTRICTS·Art. 5 Revenue Bonds

A.A bond that is issued and that bears the signature of officers in office on the date the bond is signed is a valid and binding obligation, notwithstanding that before delivery of the bond any or all of the persons whose signatures appear on the bond have ceased to be officers of the district.

B.No member of the board of directors or officer or employee of the district is personally liable on the bonds.

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A. A bond that is issued and that bears the signature of officers in office on the date the bond is signed is a valid and binding obligation, notwithstanding that before delivery of the bond any or all of the persons whose signatures appear on the bond have ceased to be officers of the district.

B. No member of the board of directors or officer or employee of the district is personally liable on the bonds.

Arizona § 48-1819 (Validity of bonds; nonliability of officers and directors) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.