§ 10-225
139 words·~1 min read·
/md/economic-development/10-225A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
§10–225.
(a)The Authority may pledge or assign:
(1)any of its revenues;
(2)its rights to receive its revenues;
(3)money or securities in accounts established to secure a bond; or
(4)a lien or security interest granted or assignment made to the Authority.
(1)A pledge or assignment under subsection
(a)of this section is valid and binding from the time the pledge or assignment is made.
(2)A lien, security interest, or assignment under subsection
(a)of this section:
(i)attaches immediately to the revenues or property pledged and then received by the Authority, without any physical delivery or further act; and
(ii)is valid and binding against any person having a claim against the Authority, regardless of whether the person has notice of the pledge, and without the recording or filing of an instrument.