                                 CODE OF VIRGINIA

PROPERTY OF AUTHORITY EXEMPT FROM FORECLOSURE OR EXECUTION SALE AND JUDGMENT
LIEN (§ 15.2-5381)

No interest of the Authority in any property, real or personal, shall be subject
to sale by foreclosure of a mortgage, trust indenture, or any other instrument,
either through judicial proceedings or the exercise of a power of sale contained
in the instrument. All Authority property shall be exempt from levy and sale by
virtue of an execution, and no execution or judicial process shall issue against
the Authority. No judgment against the Authority shall be a charge or lien upon
its property, real or personal.
		Nothing contained in this section shall prohibit the owner of a leasehold
interest granted by the Authority from granting a lien or other security
interest in his leasehold that would be subject to sale or foreclosure as
provided in any instrument creating the lien or other security interest. Nothing
contained in this section shall prohibit the Authority from granting a lien on
or creating a security interest in Authority property, real or personal, to
secure any bonds issued under this chapter, any of which property will be
subject to sale or foreclosure as provided in the instrument granting such lien
or creating such security interest.

HISTORY: 2007, c. 676.