28.0106 Existence for public benefit-Tax exempt status-Government not liable for Bank’s obligation.

Cite as [A.S.C.A. § 28.0106]

The Bank exists and operates solely for the benefit of the public and is exempt from any taxes or assessments on any of its property, operations, or activities. The debts and obligations of the Bank are not debts or obligations of the government, the government may not be responsible for any such debts or obligations.

History: 1962, PL 7-11; 1969, PL 11-40.