Virginia Code 15.2-7216: Directors and persons executing bonds not liable thereon
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Neither the Board of Directors nor any person executing the bonds shall be liable personally on the Authority‘s bonds by reasons of the issuance thereof.
Terms Used In Virginia Code 15.2-7216
- Authority: means the BVU Authority created by entity conversion of Bristol Virginia Utilities by this chapter. See Virginia Code 15.2-7202
- Board of Directors: means the governing body of the Authority. See Virginia Code 15.2-7202
- Bonds: means any bonds, notes, debentures, bond acceptance notes, or other evidence of financial indebtedness either issued or assumed by the Authority pursuant to this chapter. See Virginia Code 15.2-7202
- Person: includes any individual, corporation, partnership, association, cooperative, limited liability company, trust, joint venture, government, political subdivision, or any other legal or commercial entity and any successor, representative, agent, agency, or instrumentality thereof. See Virginia Code 1-230