Effective - 28 Aug 1977
349.080. Individuals not liable on notes or bonds. — Neither the directors of any corporation nor any person executing the bonds or notes shall be liable personally on the bonds or notes by reason of the issuance thereof. Bonds and notes issued under this section by a corporation created by or pursuant to sections 349.010 to 349.100 shall not be a debt of the county, the municipality or the state and neither the county, the municipality or the state shall be liable thereon nor in any event shall such notes or bonds be payable out of any funds or properties other than those acquired for the purposes of this law, and such bonds and notes shall not constitute an indebtedness within the meaning of any constitutional or statutory debt limitation or restriction.
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(L. 1977 S.B. 267 § 15)
Structure Missouri Revised Statutes
Title XXIII - Corporations, Associations and Partnerships
Chapter 349 - Industrial Development Corporations
Section 349.010 - Definitions.
Section 349.015 - No eminent domain.
Section 349.020 - Agricultural operations not authorized.
Section 349.025 - Who may be incorporators.
Section 349.030 - Articles of incorporation, form and contents of.
Section 349.035 - Articles, where filed — secretary of state to issue certificate, when.
Section 349.040 - Articles, how amended.
Section 349.050 - Powers of corporation.
Section 349.052 - General and business corporation law applicable — exceptions.
Section 349.055 - Revenue bonds, issuance, provisions, sale.
Section 349.060 - Notes, issuance, provisions, sale.
Section 349.065 - Renewal notes, issued when, how.
Section 349.070 - Resolutions authorizing issuance of bonds or notes, provisions authorized in.
Section 349.075 - Trust agreements authorized.
Section 349.080 - Individuals not liable on notes or bonds.
Section 349.085 - Notes and bonds declared to be approved investments for fiduciaries.
Section 349.090 - Projects not tax exempt, exceptions — bond and note interest is exempt, exception.
Section 349.095 - Dissolution of corporation, effect of.
Section 349.100 - Disclaimer as to impairment of other powers of political subdivisions.