Arkansas § 14-303-506 - Obligation and liability.
Full text of Arkansas Arkansas Code of 1987 Annotated § 14-303-506 — Obligation and liability., with citation guidance and answers to common questions.
§ 14-303-506. Obligation and liability.
It shall be plainly stated on the face of each bond that it has been issued under the provisions of this chapter, and the bonds issued hereunder shall be obligations only of the authority involved. In no event shall they constitute an indebtedness of the State of Arkansas or of the city involved within the meaning of any constitutional or statutory limitation or for which the faith and credit of the state or the city are pledged. No member of an authority shall be personally liable on the bonds or for any damages sustained by anyone in connection with any contracts entered into in carrying out the purposes and intent of this chapter unless that member shall have acted with a corrupt intent.
Source: official Arkansas text · Last verified 2026-08-27
Frequently Asked Questions About Arkansas § 14-303-506
What does Arkansas Code of 1987 Annotated § 14-303-506 cover?
Section 14-303-506 ("Obligation and liability.") is part of the Arkansas Code of 1987 Annotated, the codified statutory law of Arkansas. 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 Arkansas § 14-303-506?
A common citation format is "Arkansas Code of 1987 Annotated § 14-303-506" (Arkansas). 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 Arkansas law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Arkansas official source linked on this page or consult a licensed Arkansas attorney.
How does Arkansas § 14-303-506 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Arkansas 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 Arkansas.