Rhode Island Code § 35-12-14

Credit of the state
Open in Lexace · Ask the AI about this section
Obligations issued under the provisions of this chapter shall not constitute a debt, liability, or obligation of the state or of any political subdivision thereof other than the corporation, or a pledge of the faith and credit of the state or any political subdivision other than the corporation, but shall be payable solely from the revenues or assets of the corporation. Each obligation issued under this chapter shall contain on the face thereof a statement to the effect that the corporation shall not be obligated to pay the obligation or interest thereon except from revenues or assets pledged therefor, and that neither the faith and credit nor the taxing power of the state or any political subdivision thereof other than the corporation is pledged to the payment of the principal of or the interest on the obligation.

‹ Prev All Rhode Island sections Next ›


Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Statute text is provided for general information and may not reflect the most recent amendments; verify against the official state code.