12.39  Liability.
  The state and the treasurer of state are not liable to an eligible lending institution in any manner for payment of the principal or interest on the loan to an eligible borrower. Any delay in payments or default on the part of an eligible borrower does not in any manner affect the investment agreement between the eligible lending institution and the treasurer of state.
86 Acts, ch 1096, §9; 90 Acts, ch 1168, §6
Referred to in §12.31, §12.32, §12.34, §12.35, §12.36