Neither the commissioners of an authority nor any person executing such bonds shall be liable personally thereon by reason of the issuance thereof, except to the extent that the bonds, if constituting an indebtedness, exceed any applicable limitation or restriction.
S.D. Codified Laws § 50-6A-37
No personal liability on bonds unless debt limitation exceeded
Known as the Airport Authorities Act
The act spans §§ 50-6A-1 to 50-6A-9 (55 sections).
Source: SL 1976, ch 303, § 14.
Official source: South Dakota Legislature. Reproduced from public-domain South Dakota statutes; confirm against the official source for the current text. Not legal advice.