40:37A-82 - Exemption of property of authority from levy and sale
40:37A-82.Ā Exemption of property of authority from levy and sale
All property of an authority shall be exempt from levy and sale by virtue ofĀ an execution and no execution or other judicial process shall issue against theĀ same nor shall any judgment against an authority be a charge or lien upon itsĀ property;Ā provided, that nothing herein contained shall apply to or limit theĀ rights of the holder of any bonds to pursue any remedy for the enforcement ofĀ any pledge, mortgage or lien given by an authority on its facility revenues orĀ other moneys, or on its real or personal property.
L.1960, c. 183, p. 756, s. 39, eff. Jan. 18, 1961.Ā Amended by L.1977, c. 291, s. 4, eff. Dec. 12, 1977.
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All property of an authority shall be exempt from levy and sale by virtue ofĀ an execution and no execution or other judicial process shall issue against theĀ same nor shall any judgment against an authority be a charge or lien upon itsĀ property;Ā provided, that nothing herein contained shall apply to or limit theĀ rights of the holder of any bonds to pursue any remedy for the enforcement ofĀ any pledge, mortgage or lien given by an authority on its facility revenues orĀ other moneys, or on its real or personal property.
L.1960, c. 183, p. 756, s. 39, eff. Jan. 18, 1961.Ā Amended by L.1977, c. 291, s. 4, eff. Dec. 12, 1977.
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