Utah Code § 17C-1-506
Those executing bonds not personally liable -- Limitation of obligations under bonds -- Negotiability
Utah · Utah Code Title 17C — Limited Purpose Local Government Entities - Community Reinvestment Agency Act · Status: effective
Cite this
- Citation
- Utah Code § 17C-1-506, Those executing bonds not personally liable -- Limitation of obligations under bonds -- Negotiability, Utah, version 1 as recorded 2026-10-03, yourstate.us, https://yourstate.us/provision/2329901
- Permanent ID
ys:prov:2329901@1- SHA-256
a86b394948de6f8b545d7255148372ede504abbb6cb3b6bfe6e08fc4c10f74f4
The hash is SHA-256 of this version's text, with every run of whitespace collapsed to a single space and the ends trimmed. The ID always leads back here, and checking it says whether the text you cited is still the current version.
Full text
(1) A member of a board or other person executing an agency bond is not liable personally on the bond.
(2)
(a) A bond issued by an agency is not a general obligation or liability of the community, the state, or any of the state's political subdivisions and does not constitute a charge against their general credit or taxing powers.
(b) A bond issued by an agency is not payable out of any funds or properties other than those of the agency.
(c) The community, the state, and the state's political subdivisions may not be liable on a bond issued by an agency.
(d) A bond issued by an agency does not constitute indebtedness within the meaning of any constitutional or statutory debt limitation.
(3) A bond issued by an agency under this part is fully negotiable.