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Code · Illinois · Chapter 50 — LOCAL GOVERNMENT · Act 465

Sec. 40. Personal liability; corporate authorities.

66 words·~1 min read·/il/chapter-50/act-465/40

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Sec. 40. Personal liability; corporate authorities. Neither the members of the corporate authorities of an Authority, nor any official or employee of the Authority, nor any person executing bonds issued under this Act shall be liable personally for payment of the bonds or the interest or redemption premium, if any, thereon or be subject to any personal liability or accountability by reason of the issuance thereof.
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