Section 26.27.240. Exemption of real property of corporation from execution or other process.

All real property of the corporation is exempt from levy and sale by execution, and an execution or other judicial process may not issue against it. A 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 on its rents, fees, or revenues.

Authorities

14.40.926

Notes

References

AS 14.40.926 Exemption of real property of corporation from execution or other process. [Repealed, E.O. No. 115, Sec. 4 (2011). For

History

(E.O. No. 115 Sec. 2 (2011))

].