Neither the members of the corporate authorities of an Authority, nor any official or employee of the Authority, nor any person executing bonds issued under this Act shall be liable personally for payment of the bonds or the interest or redemption premium, if any, thereon or be subject to any personal liability or accountability by reason of the issuance thereof.
50 ILCS 465/40
Personal liability; corporate authorities
Known as the Local Government Housing Finance Act
The act spans §§ 50-465-1 to 50-465-99 (15 sections).
P.A. 92-142, eff. 7-24-01.
Official source: Illinois General Assembly. Reproduced from public-domain Illinois statutes; confirm against the official source for the current text. Not legal advice.