Alaska § 42.40.690 - Credit of state not pledged.
Full text of Alaska Alaska Statutes § 42.40.690 — Credit of state not pledged., with citation guidance and answers to common questions.
§ 42.40.690. Credit of state not pledged.
(a) The state and its political subdivisions are not liable for the debts of the corporation. Bonds issued under this chapter are payable solely from the revenue or assets of the corporation and do not constitute a (1) debt, liability, or obligation of the state or of a political subdivision of the state; or
(2) pledge of the faith and credit of the state or of a political subdivision of the state.
(b) The corporation may not pledge the credit or the taxing power of the state or its political subdivisions. Each bond issued under this chapter shall contain on its face a statement that (1) the corporation is not obligated to pay it or the interest on it except from the revenue or assets pledged for it; and
(2) neither the faith and credit nor the taxing power of the state or of a political subdivision of the state is pledged to the payment of it.
Source: official Alaska text · Last verified 2026-08-27
Frequently Asked Questions About Alaska § 42.40.690
What does Alaska Statutes § 42.40.690 cover?
Section 42.40.690 ("Credit of state not pledged.") is part of the Alaska Statutes, the codified statutory law of Alaska. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Alaska § 42.40.690?
A common citation format is "Alaska Statutes § 42.40.690" (Alaska). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Alaska law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Alaska official source linked on this page or consult a licensed Alaska attorney.
How does Alaska § 42.40.690 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Alaska can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Alaska.