N.J.S.A. 40:37B-38 — Exemption of property of authority from levy and sale

40:37B-38. 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 or lien given by an authority on its facility revenues or other moneys. L.1967, c. 136, s. 38, eff. June 28, 1967.

This is the verbatim text of N.J.S.A. 40:37B-38, retrieved from the New Jersey Legislature's public statute corpus. Statutes are amended periodically — for the most current version, check the external source link above. Kyzer is not a law firm and this page is not legal advice.