Maryland § 1-1424
Full text of Maryland Maryland Code § 1-1424, with citation guidance and answers to common questions.
§ 1-1424.
(a) A bond is not:
(1) a debt or liability of the State or a political subdivision of the State; or
(2) a pledge of the full faith and credit of the State or a political subdivision of the State.
(b) Each bond shall state on its face that neither the State nor a political subdivision of the State is obliged to pay the principal of or interest on the bond except from revenues pledged to the payment of the bond.
(c) The issuance of bonds does not directly, indirectly, or contingently obligate the State or any political subdivision:
(1) to impose or pledge a tax to pay the bonds; or
(2) to appropriate money to pay the bonds.
(d) This subtitle does not prohibit an authority from pledging its full faith and credit in connection with the issuance of bonds.
Frequently Asked Questions About Maryland § 1-1424
What does Maryland Code § 1-1424 cover?
Section 1-1424 is part of the Maryland Code, the codified statutory law of Maryland. 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 Maryland § 1-1424?
A common citation format is "Maryland Code § 1-1424" (Maryland). 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 Maryland law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Maryland official source linked on this page or consult a licensed Maryland attorney.
How does Maryland § 1-1424 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Maryland 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 Maryland.