(1) A member of a board or other person executing an agency bond is not liable personally on the bond.
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Terms Used In Utah Code 17C-1-506

  • Board: means the governing body of an agency, as described in Section 17C-1-203. See Utah Code 17C-1-102
  • Community: means a county or municipality. See Utah Code 17C-1-102
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
  • Person: means :
         (24)(a) an individual;
         (24)(b) an association;
         (24)(c) an institution;
         (24)(d) a corporation;
         (24)(e) a company;
         (24)(f) a trust;
         (24)(g) a limited liability company;
         (24)(h) a partnership;
         (24)(i) a political subdivision;
         (24)(j) a government office, department, division, bureau, or other body of government; and
         (24)(k) any other organization or entity. See Utah Code 68-3-12.5
  • State: when applied to the different parts of the United States, includes a state, district, or territory of the United States. See Utah Code 68-3-12.5
(2)

     (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.
     (2)(b) A bond issued by an agency is not payable out of any funds or properties other than those of the agency.
     (2)(c) The community, the state, and the state’s political subdivisions may not be liable on a bond issued by an agency.
     (2)(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.

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