N.J. Stat. § 58:11B-13

Current through L. 2024, c. 87.

Section 58:11B-13 - No personal liability

Neither the directors of the trust nor any person executing bonds, notes or other obligations of the trust issued pursuant to P.L. 1985, c.334 (C.58:11B-1 et seq.), P.L. 1997, c. 224(C.58:11B-10.1 et al.), or sections 22 and 34 through 38 of P.L. 2016, c. 56(C.58:11B-10.3 through C.58:11B-10.5, C.58:11B-20.2, C.58:11B-22.3, and C.58:11B-22.4) shall be liable personally on the bonds, notes or other obligations by reason of the issuance thereof.

N.J.S. § 58:11B-13

Amended by L. 2016, c. 56,s. 24, eff. upon the appropriation by the State of eligible federal or State funds into the State Transportation Infrastructure Bank Fund pursuant to section 34 of P.L. 2016, c. 56 (C.56:11B-10.4) and funds are appropriated to the trust to cover administrative and operational expenses related to the State Transportation Infrastructure Bank.

L.1985, c.334, s.13; amended 1997 c. 224, s. 11.