Sec. 14.
A member of the authority or a person executing the notes or bonds is not personally liable on the notes or bonds or subject to any personal liability or accountability by reason of the issuance or nonissuance thereof.
History: Add. 1972, Act 306, Eff. Mar. 30, 1973
Structure Michigan Compiled Laws
Chapter 390 - Universities and Colleges
Act 295 of 1969 - Higher Education Facilities Authority Act (390.921 - 390.934)
Section 390.921 - Higher Education Facilities Authority Act; Short Title.
Section 390.921a - Legislative Determination.
Section 390.922 - Definitions.
Section 390.924 - Powers of Authority.
Section 390.927 - Pledge to Bondholders.
Section 390.928 - Bonds as Investment.
Section 390.930 - Tax Exemption.
Section 390.931 - Bonds; Negotiability; Tax Exemption.
Section 390.932 - Trustee; Appointment; Powers and Duties.