North Carolina § 157-21 - Limitations on remedies of obligee.
Full text of North Carolina North Carolina General Statutes § 157-21 — Limitations on remedies of obligee., with citation guidance and answers to common questions.
§ 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. History (1935, c. 456, s. 21; 1979, c. 690, s. 4.)
Source: official North Carolina text · Last verified 2026-08-27
Frequently Asked Questions About North Carolina § 157-21
What does North Carolina General Statutes § 157-21 cover?
Section 157-21 ("Limitations on remedies of obligee.") is part of the North Carolina General Statutes, the codified statutory law of North Carolina. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite North Carolina § 157-21?
A common citation format is "North Carolina General Statutes § 157-21" (North Carolina). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of North Carolina law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the North Carolina official source linked on this page or consult a licensed North Carolina attorney.
How does North Carolina § 157-21 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in North Carolina can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in North Carolina.