§ 91540. — 91540. (Amended by Stats. 1982, Ch. 1605, Sec. 16.)

California § 91540.

• Jurisdiction: California
• Code GOV: Government Code - GOV
• Title 10.: TITLE 10. CALIFORNIA INDUSTRIAL DEVELOPMENT FINANCING ACT
• Ch. 1.: CHAPTER 1. California Industrial Development Financing
• Art. 2.: ARTICLE 2. Industrial Development Authorities

Text

(a)
All property, revenues, and funds, owned or possessed by an authority for the purposes of this title, shall be exempt from levy and sale by virtue of execution or other judicial process. Execution or other judicial process shall not issue against such property, revenues, or funds nor shall any judgment against an authority be a charge or lien upon such property, revenues, or funds.
(b)
This section does not apply to or limit the right of obligees to enforce, as appropriate, any indenture or the right of obligees to pursue any remedies for the enforcement of any assignment by an authority of or any pledge or lien given by an authority on revenues, project agreements, administration expenses or any other assets.
(c)
This section does not apply to interests of companies.

Legislative History

Amended by Stats. 1982, Ch. 1605, Sec. 16.