State Codes and Statutes

State Codes and Statutes

Statutes > New-jersey > Title-27 > Section-27-25 > 27-25-17

27:25-17.  Liability for expenses of corporation
    All expenses incurred by the corporation in carrying out the provisions of this act shall be payable from funds available to the corporation therefor and no liability or obligation shall be incurred by the corporation beyond the extent to which moneys are available.  No debt or liability of the corporation shall be deemed or construed to create or constitute a debt, liability, or a loan or pledge of the credit of the State.

     L.1979, c. 150, s. 17, eff. July 17, 1979.