157-21. Limitations on remedies of obligee.
All property of the authority shall be exempt from levy and sale by virtue of an execution, and no execution shall issue against the same. No judgment 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 limit the 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 any deficiency due on the indebtedness secured thereby and to issue execution on the credit of the authority. Such deficiency judgment or decree shall be a lien and charge upon the property of the authority, which may be levied on and sold by virtue of an execution or other judicial process for the purpose of satisfying such deficiency judgment or decree. (1935, c. 456, s. 21; 1979, c. 690, s. 4.)
Structure North Carolina General Statutes
North Carolina General Statutes
Chapter 157 - Housing Authorities and Projects
Article 1 - Housing Authorities Law.
§ 157-2 - Finding and declaration of necessity.
§ 157-4 - Notice, hearing and creation of authority; cancellation of certificate of incorporation.
§ 157-4.1 - Alternative organization any city.
§ 157-4.1A - Alternative organization cities under 250,000 only.
§ 157-5 - Appointment, qualifications and tenure of commissioners.
§ 157-7 - Interested commissioners or employees.
§ 157-8 - Removal of commissioners.
§ 157-9 - Powers of authority.
§ 157-9.2 - Additional powers.
§ 157-9.3 - Mixed income projects owned or operated by authorities.
§ 157-9.4 - Multi-family rental housing projects.
§ 157-10 - Cooperation of authorities.
§ 157-12 - Acquisition of land for government.
§ 157-13 - Zoning and building laws.
§ 157-14 - Types of bonds authority may issue.
§ 157-15 - Form and sale of bonds.
§ 157-16 - Provisions of bonds, trust indentures, and mortgages.
§ 157-17 - Power to mortgage when project financed with governmental aid.
§ 157-18 - Remedies of an obligee of authority.
§ 157-19 - Additional remedies conferrable by mortgage or trust indenture.
§ 157-20 - Remedies cumulative.
§ 157-21 - Limitations on remedies of obligee.
§ 157-22 - Title obtained at foreclosure sale subject to agreement with government.
§ 157-23 - Contracts with federal government.
§ 157-24 - Security for funds deposited by authorities.
§ 157-25 - Housing bonds, legal investments and security.
§ 157-26.1 - Exemption from real estate licensure requirements.
§ 157-29 - Rentals; tenant selections; and summary ejectments.
§ 157-29.1 - Fraudulent misrepresentation.
§ 157-30 - Creation and establishment validated.
§ 157-31 - Contracts, agreements, etc., validated.
§ 157-32 - Proceedings for issuance, etc., of bonds and notes validated.
§ 157-32.1 - Other validation of creation, etc.
§ 157-32.2 - Other validation of contracts, agreements, etc.
§ 157-32.3 - Other validation of bonds and notes.
§ 157-32.4 - Further validation of contracts, agreements, etc.
§ 157-33 - Notice, hearing and creation of authority for a county.
§ 157-34 - Commissioners and powers of authority for a county.
§ 157-35 - Creation of regional housing authority.
§ 157-36 - Commissioners of regional housing authority.
§ 157-37 - Powers of regional housing authority.
§ 157-38 - Rural housing projects.
§ 157-39 - Housing applications by farmers.
§ 157-39.1 - Area of operation of city, county and regional housing authorities.
§ 157-39.2 - Increasing area of operation of regional housing authority.
§ 157-39.3 - Decreasing area of operation of regional housing authority.
§ 157-39.4 - Requirements of public hearings.
§ 157-39.5 - Consolidated housing authority.
§ 157-39.6 - Findings required for authority to operate in municipality.
§ 157-39.7 - Meetings and residence of commissioners.
§ 157-39.8 - Agreement to sell as security for obligations to federal government.