ยง 510. State and participating counties not liable on bonds and notes.
The bonds, notes or other obligations of a corporation shall not be a
debt of either the state of New York or of any participating county and
neither the state nor any county shall be liable thereon, nor shall they
be payable out of any funds other than those of the corporation.
Structure New York Laws
PML - Racing, Pari-Mutuel Wagering and Breeding Law
Article 5 - Regional Off-Track Betting Corporations
502 - Establishment of Regional Off-Track Betting Corporations.
502-A - Special Provisions With Regard to the Western Regional Off-Track Betting Corporation.
503 - Powers of Regional Corporations.
503-A - Additional Powers of the Regional Off-Track Betting Corporations.
504 - Policing Off-Track Betting.
505 - Acquisition or Leasing of Property.
506 - Loans and Contributions by a Participating County to a Corporation.
507 - Contracts of Corporations.
508 - Issuance of Bonds and Notes by a Corporation.
509-A - Capital Acquisition Fund.
510 - State and Participating Counties Not Liable on Bonds and Notes.
511 - State's Right to Require Redemption of Bonds.
512 - Remedies of Holders of Bonds and Notes.
513 - Exemption From Taxation.
514 - Notice of Claim; Action Against Corporation.
515 - Bonds and Notes as Legal Investments.