40:37A-82 - Exemption of property of authority from levy and sale - New-jersey Statutes

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Statutes > New-jersey > Title-40 > Section-40-37a > 40-37a-82

40:37A-82. Exemption of property of authority from levy and sale
All property of an authority shall be exempt from levy and sale by virtue of an execution and no execution or other judicial process shall issue against the same nor shall any judgment against an authority be a charge or lien upon its property; provided, that nothing herein contained shall apply to or limit the rights of the holder of any bonds to pursue any remedy for the enforcement of any pledge, mortgage or lien given by an authority on its facility revenues or other moneys, or on its real or personal property.

L.1960, c. 183, p. 756, s. 39, eff. Jan. 18, 1961. Amended by L.1977, c. 291, s. 4, eff. Dec. 12, 1977.

State Codes and Statutes

Statutes > New-jersey > Title-40 > Section-40-37a > 40-37a-82

40:37A-82. Exemption of property of authority from levy and sale
All property of an authority shall be exempt from levy and sale by virtue of an execution and no execution or other judicial process shall issue against the same nor shall any judgment against an authority be a charge or lien upon its property; provided, that nothing herein contained shall apply to or limit the rights of the holder of any bonds to pursue any remedy for the enforcement of any pledge, mortgage or lien given by an authority on its facility revenues or other moneys, or on its real or personal property.

L.1960, c. 183, p. 756, s. 39, eff. Jan. 18, 1961. Amended by L.1977, c. 291, s. 4, eff. Dec. 12, 1977.

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State Codes and Statutes

Statutes > New-jersey > Title-40 > Section-40-37a > 40-37a-82

40:37A-82. Exemption of property of authority from levy and sale
All property of an authority shall be exempt from levy and sale by virtue of an execution and no execution or other judicial process shall issue against the same nor shall any judgment against an authority be a charge or lien upon its property; provided, that nothing herein contained shall apply to or limit the rights of the holder of any bonds to pursue any remedy for the enforcement of any pledge, mortgage or lien given by an authority on its facility revenues or other moneys, or on its real or personal property.

L.1960, c. 183, p. 756, s. 39, eff. Jan. 18, 1961. Amended by L.1977, c. 291, s. 4, eff. Dec. 12, 1977.