§ 5-460. State not liable

Latest version.

(a) In general. -- A fixed asset financing loan assisted by a linked deposit is not a debt of the State or a pledge of the credit of the State.

(b) Liability. -- The Authority and, in accordance with § 5-521 of the Courts Article, the Department and the State are not liable to a lender for payment of the principal or interest on a fixed asset financing loan assisted by a linked deposit under this part.

HISTORY: An. Code 1957, art. 83A, § 5-927(i); 2008, ch. 306, § 2.

                    
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