Except as provided in § 5-408(c) of this subtitle, the Authority may not pledge the faith and credit of the State, nor create any debt or obligation of the State. If any pledge, debt, or obligation is created, it is invalid. The members of the Authority are not liable as individuals for any contract made on behalf of the Authority.

Added by Acts 1973, 1st Sp. Sess., c. 4, § 1. Renumbered from Natural Resources § 8-507 by Acts 1995, c. 488, § 1, eff. July 1, 1995. Amended by Acts 1995, c. 488, § 16, eff. July 1, 1995.

Formerly Art. 96A, § 95.