Arizona § 17-285 - Bonds as legal investments; state nonliability
Full text of Arizona Arizona Revised Statutes § 17-285 — Bonds as legal investments; state nonliability, with citation guidance and answers to common questions.
§ 17-285. Bonds as legal investments; state nonliability
A. Bonds issued under this article are legal investments for all banks, trust companies and insurance companies organized and operating under the laws of this state.
B. The bonds and interest on the bonds shall be paid solely according to their terms and are not obligations general, special or otherwise of this state. The bonds do not constitute a legal debt of this state and are not enforceable against this state. The commission is not in any event liable for the payment of the principal of or interest on the bonds from any source of revenues other than those pledged for the payment of the bonds. The bonds shall not be construed to constitute an indebtedness of the commission within the meaning of any constitutional or statutory provision.
Source: official Arizona text · Last verified 2026-08-27
Frequently Asked Questions About Arizona § 17-285
What does Arizona Revised Statutes § 17-285 cover?
Section 17-285 ("Bonds as legal investments; state nonliability") is part of the Arizona Revised Statutes, the codified statutory law of Arizona. 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 Arizona § 17-285?
A common citation format is "Arizona Revised Statutes § 17-285" (Arizona). 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 Arizona law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Arizona official source linked on this page or consult a licensed Arizona attorney.
How does Arizona § 17-285 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Arizona 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 Arizona.