Rhode Island § 42-55-19 § 42-55-19. Credit of state not pledged.

Rhode Island Statutes

§ 42-55-19 — § 42-55-19. Credit of state not pledged.

Rhode Island § 42-55-19

Title 42State Affairs and Government

Ch. 42-55Rhode Island Housing and Mortgage Finance Corporation

This text of Rhode Island § 42-55-19 (§ 42-55-19. Credit of state not pledged.) is published on Counsel Stack Legal Research, covering Rhode Island primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

R.I. Gen. Laws § 42-55-19 (2026).

Text

§ 42-55-19. Credit of state not pledged.
Obligations issued under the provisions of this chapter shall not be deemed to constitute
            a debt or liability or obligation of the state or of any political subdivision of
            the state or a pledge of the faith and credit of the state or of any political subdivision
            of the state but shall be payable solely from the revenues or assets of the corporation.
            Each obligation issued under this chapter shall contain on its face a statement to
            the effect that the corporation shall not be obligated to pay the obligation or the
            interest on the obligation except from the revenues or assets pledged and that neither
          

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§ 42-55-19. Credit of state not pledged.

Obligations issued under the provisions of this chapter shall not be deemed to constitute a debt or liability or obligation of the state or of any political subdivision of the state or a pledge of the faith and credit of the state or of any political subdivision of the state but shall be payable solely from the revenues or assets of the corporation. Each obligation issued under this chapter shall contain on its face a statement to the effect that the corporation shall not be obligated to pay the obligation or the interest on the obligation except from the revenues or assets pledged and that neither the faith and credit nor the taxing power of the state or of any political subdivision of the state is pledged to the payment of the principal of or the interest on the obligation.