Skip to main content
CourtGPT logoCourtGPT
Directory
Law
For Attorneys
Blog
AppointmentsSign InSign Up
Section 5-460 - State Not Liable — Maryland Law | CourtGPT
  1. Home/
  2. Laws/
  3. Maryland/
  4. Economic Development - Division I - Secretary of Commerce and Department of Commerce/
  5. Division I - Secretary of Commerce and Department of Commerce/
  6. Title 5 - Economic Development and Financial Assistance Programs/
  7. Subtitle 4 - Maryland Industrial Development Financing Authority/
  8. Part VI - Linked Deposit Program/
  9. Section 5-460 - State Not Liable
Maryland Legal Code

Section 5-460 - State Not Liable

Ask AI about this
(a) A fixed asset financing loan assisted by a linked deposit is not a debt of the State or a pledge of the credit of the State. (b) The Authority and, in accordance with § 5-521 of the Courts Article, the Department and the State are not liable to a lender for payment of the principal or interest on a fixed asset financing loan assisted by a linked deposit under this part.