State Codes and Statutes

Statutes > South-dakota > Title-5 > Chapter-12 > Statute-5-12-32

5-12-32. Debt limitations not applicable to interim notes--Personal liability not created by execution of notes. The interim notes shall not constitute an indebtedness within the meaning of any constitutional or statutory debt limitation or restriction.
No member, officer, agent, or employee of the authority, nor any other person who executes interim notes, shall be liable personally by reason of the issuance thereof.

Source: SL 1967, ch 276, § 5.

State Codes and Statutes

Statutes > South-dakota > Title-5 > Chapter-12 > Statute-5-12-32

5-12-32. Debt limitations not applicable to interim notes--Personal liability not created by execution of notes. The interim notes shall not constitute an indebtedness within the meaning of any constitutional or statutory debt limitation or restriction.
No member, officer, agent, or employee of the authority, nor any other person who executes interim notes, shall be liable personally by reason of the issuance thereof.

Source: SL 1967, ch 276, § 5.