Section 18.55.230. Exemption of real property of corporation from execution or other process.

Latest version.

In conjunction with the exercise of a power authorized by AS 18.55.100 - 18.55.290, the real property of the corporation is exempt from levy and sale by execution. Execution or other judicial process may not issue against it and judgment against the corporation may not be a charge or lien upon its real property. However, this section does not limit the right of an obligee to foreclose or otherwise enforce a mortgage of the corporation or to pursue any remedy for the enforcement of a pledge or lien given by the corporation under AS 18.55.100 - 18.55.290 on its rents, fees, or revenues.

Notes

History

(Sec. 40-7-15 ACLA 1949; am Sec. 20 ch 4 FSSLA 1992; am Sec. 29 ch 30 SLA 1996)

                    
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