Galette v. New Jersey Transit Corp. · ¶55

Second, the State is not formally liable for any of NJ Transit's debts or liabilities. New Jersey law provides that “[n]o debt or liability of the corporation shall be deemed or construed to create or constitute a debt, liability, or a loan or pledge of the credit of the State.” § 27:25–17. Before this Court, NJ Transit concedes that “New Jersey is not formally liable for NJ Transit's debts.” Brief for NJ Transit 34.

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