§ 157-21. Limitations on remedies of obligee. - North Carolina Statutes

§ 157‑21. Limitations on remedies of obligee.

All property of the authority shall be exempt from levy and sale byvirtue of an execution, and no execution shall issue against the same. Nojudgment against the authority shall be a charge or lien against its property,real or personal. The provisions of this section shall not apply to or limitthe right of obligees of any mortgage of the authority provided for in G.S. 157‑17,after foreclosure sale thereunder, to obtain a judgment or decree for anydeficiency due on the indebtedness secured thereby and to issue execution onthe credit  of the authority. Such deficiency judgment or decree shall be alien and charge upon the property of the authority, which may be levied on andsold by virtue of an execution or other judicial process for the purpose ofsatisfying such deficiency judgment or decree. (1935, c. 456, s. 21; 1979, c. 690, s. 4.)